The case was subsequently overturned by the Court of Appeal. Last week, the Supreme Court refused leave to appeal the Court of Appeal’s decision.
The result is that a liquidator can now exercise the statutory power to require information and documents from shareholders, creditors and others situated overseas, in some cases. The question in each case will be whether there is a sufficiently substantial connection with the activities of the company in New Zealand to justify the assertion of jurisdiction.
Background and High Court decision
The liquidators of two Auckland-based property development companies issued notices under section 261 of the Act to a US company, Arena Alceon NZ Credit Partners, LLC (Arena) and its security…
