CP Asset Management Limited  and others v Damien Grant and Steven Khov and others - SC 121/2013

Civil Appeal – Companies Act 1993 – Whether the Court of Appeal erred in concluding that the resolution was contrary to the interests of unsecured creditors and that the resolution caused prejudice to the second respondents – Whether the Court of Appeal erred in finding that the creditors may not get an adequate investigation into the affairs of the company if the replacement liquidators were to continue in office – Whether the Court of Appeal was correct to set aside the resolution and in its interpretation of s 245A of the Companies Act – Whether the Court of Appeal failed to properly quantify and assess the extent to which the terms of the first respondent’ s position on funding was a specific benefit to the creditors in the liquidation and whether it misconstrued findings made a first instance – Whether the Court of Appeal erred in basing its assessment as to the steps taken in the liquidation solely on the first report of the liquidators – Whether the Court of appeal erred by failing to recognise that related creditors have an interest in the liquidation and in giving primacy to the position of one creditor over the general body of creditors. [2013] NZCA 452   CA 67/2013