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Liquidators' duties and the protection of charged assets / by Grant Slevin

By: Slevin, Grant.
Series: New Zealand Business Law Quarterly.Publisher: New Zealand, Research Centre for Business Law, University of Auckland, Edition: 19 (4), December 2013.Description: 294-304, 11 pages.Subject(s): Liquidation | Assets | Case law | Companies Act 1993 -- New ZealandSummary: Discusses the Dunphy v Sleepyhead Manufacturing ruling in the Court of Appeal and its implications. Reveals that s 254 (a) of the Companies Act 1993 should be read in the restricted sense, in that it relieves a liquidator of any responsibility to realise charged assets, without conferring any rights to do so unless the charge holder consents. Examines the implications of the competing interpretations and argues that liquidators are statutorily empowered to realise charged and uncharged assets.
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Article Article New Zealand
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Discusses the Dunphy v Sleepyhead Manufacturing ruling in the Court of Appeal and its implications. Reveals that s 254 (a) of the Companies Act 1993 should be read in the restricted sense, in that it relieves a liquidator of any responsibility to realise charged assets, without conferring any rights to do so unless the charge holder consents. Examines the implications of the competing interpretations and argues that liquidators are statutorily empowered to realise charged and uncharged assets.

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