Maginness v Relax (NZ) Limited (in voluntary administration)

[2019] NZHC 1354

IN THE HIGH COURT OF NEW ZEALAND AUCKLAND REGISTRY

I TE KŌTI MATUA O AOTEAROA TĀMAKI MAKAURAU ROHE

CIV-2019-404-001022

[2019] NZHC 1354

UNDER

the Companies Act 1993

IN THE MATTER OF

the liquidation of Relax (NZ) Limited (in Voluntary Administration)

BETWEEN

TONY LEONARD MAGINNESS and JARED WAIATA BOOTH

Plaintiffs

AND

RELAX (NZ) LIMITED (IN VOLUNTARY ADMINISTRATION)

Defendant

Hearing:	14 June 2019
Appearances:	R J Sussock and S J Nicolson for Plaintiffs
Judgment:	14 June 2019

JUDGMENT OF ASSOCIATE JUDGE P J ANDREW

This judgment was delivered by Associate Judge Andrew on 14 June 2019 at 3.30 pm

pursuant to r 11.5 of the High Court Rules Registrar / Deputy Registrar Date………………………

MAGINNESS & OR v RELAX (NZ) LTD [2019] NZHC 1354 [14 June 2019]

Introduction

[1]    This is an application to liquidate the defendant company which has been brought by the voluntary administrators of the defendant company, Tony Maginness and Jared Booth. The application has been brought pursuant to ss 239ABU and 241(2)(c) of the Companies Act 1993.

[2]    I am satisfied that the grounds for an order for liquidation have been made out. My reasons for my decision will follow in a reasons judgment to be issued subsequently.

[3]    I am making these orders today, on an urgent basis, in order to avoid the watershed meeting which must, in the absence of a liquidation order or other order of the Court, be reconvened on or before next Wednesday, 19 June 2019 (s 239AZ(1) of the Companies Act 1993). The order for liquidation will avoid the need for costs and expense associated with reconvening that meeting.

Result

[4]I make the following orders:

(a)The defendant company, Relax (NZ) Ltd, is placed into liquidation;

(b)I appoint Mr Tony Leonard Maginness and Jared Waiata Booth, of Auckland, as the liquidators. The terms and conditions of their appointment and their rates of remuneration are as set out in the consent to act dated 10 June 2019;

(c)I award costs to the plaintiffs on a 2B basis together with disbursements, as fixed by the Registrar;

(d)Time is abridged in respect of service of the proceedings on the defendant and in relation to the advertising of the liquidation proceeding so  that  the  Court  is  satisfied  that  the  requirements  of r 31.12(2) and r 31.10 have been met.

[5]My orders are timed at 3.30 pm on Friday, 14 June 2019.

[6]    The suppression orders made by Associate Judge Matthews in his minute of  6 June 2019 remain in force. I will deal with the issue of whether those suppression orders should be maintained in my reasons judgment.

Associate Judge P J Andrew