Nacey v McMaster

[2022] NZHC 546

IN THE HIGH COURT OF NEW ZEALAND WELLINGTON REGISTRY

I TE KŌTI MATUA O AOTEAROA TE WHANGANUI-A-TARA ROHE

CIV-2020-485-345

[2022] NZHC 546

UNDER

Section 284 of the Companies Act 1993

IN THE MATTER

of MARLBOROUGH COUNTRY LIMITED (IN LIQUIDATION)

BETWEEN

RICHARD JOHN NACEY AND JOHN

HOWARD ROSS FISK, joint and several

liquidators of Marlborough Country Limited (in liquidation)

Applicants

AND

GARY RICHARD McMASTER, JAYNE MARIE GALE, PETER SCOTT MURPHY AND STEPHEN JOHN GALE

First Respondents

VUELTA INVESTMENTS LIMITED
Second Respondent

ANNIE CHAN AND JACK CHAN
Third Respondents

continued….

Hearing:

(Determined on the Papers)

Counsel:

M D Arthur and M G Lister for the Applicants

S A Barker and J Maltby for First, Second, Third and Fourth Respondents

J K Scragg and E M Currie for Fifth Respondent

Judgment:

23 March 2022

JUDGMENT OF ASSOCIATE JUDGE LESTER

NACEY v McMASTER [2022] NZHC 546 [23 March 2022]

AND

H HAHN LIMITED

Fourth Respondent

FREDERICK PAUL PEREIRA
Fifth Respondent

DOMINIC CHANDRAN
Sixth Respondent

YOU SEO LIAN

Seventh Respondent

CHUAH KIM SENG
Eighth Respondent

SONIA JANE PEREIRA
Ninth Respondent

MARCUS PAUL PEREIRA
Tenth Respondent

YONG SIEW LENG

Eleventh Respondent

FRANCIS BRIGGED

Twelfth Respondent

[1]        This proceeding is an application by the liquidators of Marlborough Country Limited (in liquidation) for directions.

[2]        The directions sought related to the distribution of the surplus assets in the liquidation. Once the liquidators had made the application and the shareholders who had competing claims in the surplus assets became involved, the liquidators responsibly stepped back to allow the shareholders to advance their claims.

[3]        Shortly  before  the  hearing  of  the   application,  the  Court  was   advised   a settlement had been reached.

[4]        The liquidators and the shareholders who took active steps in this proceeding have filed a joint memorandum (dated 22 March 2022) seeking orders by consent.

[5]        The orders sought include approval of the liquidators’ costs and disbursements. Normally such an application requires the liquidators to provide evidence as to the steps they have taken in the liquidation and the reasonableness of the costs claimed. However, in this case, all those with an interest in the fund who have taken active steps in the litigation consent to the amount claimed for liquidators’ costs in the joint memorandum of counsel dated 22 March 2022.

[6]        Accordingly, by consent, orders are made in terms of paragraphs [3](a) and [3](b) of the 22 March 2022 memorandum.

[7]The making of the above orders marks the end of this proceeding.

Associate Judge Lester

Solicitors:

Buddle Findlay, Wellington Chapman Tripp

Duncan Cotterill