Jennings Roadfreight Limited (in liquidation) and Boris van Delden and Roy Horrocks as liquidators v Commissioner of Inland Revenue - SC 118/2013
Summary
Civil Appeal – Tax Administration Act 1994 – Whether the Court of Appeal erred in deciding that the trust created by s 167(1) of the Tax Administration Act 1994 did not come to an end upon liquidation.[2013] NZCA 455 CA 432/2012
Result
Leave to appeal is granted.
The approved ground for appeal is whether:
(a) the trust arising under s 167(1) of the Tax Administration Act 1994 continues in existence upon the liquidation of a company, in respect of funds held in the company’s account; or
(b) the trust is extinguished upon the liquidation, so that the funds held are dealt with in accordance with Schedule 7 of the Companies Act 1993.
14 February 2014
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The appeal is allowed. The respondent must repay $14,076.38 to the appellants.
Costs of $25,000 plus reasonable disbursements (to be set by the Registrar if necessary) are awarded to the appellants.
7 November 2014
Additional Information
Elias CJ, McGrath, William Young, Glazebrook, Arnold JJ.