West City Construction Limited v Henry David Levin and David Stuart Vance as liquidators of St George Developments Limited (in liquidation) - SC 43/2014

A Leave to appeal is granted (Levin v West City Construction [2014] NZCA 98).
B The approved grounds of appeal are:
Whether the assignment of the development bond is a voidable transaction under s 292 of the Companies Act 1993; and
Whether the Court of Appeal correctly exercised the discretion under s 295 of the Companies Act.
7 August 2014
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A    The appeal is allowed, the judgment of the Court of Appeal is reversed and the judgment of the Associate Judge in the High Court is restored.  
B    The liquidators are to pay the appellant costs and disbursements in respect of the appeal to the Court of Appeal to be fixed by that Court and costs in relation to the appeal to this Court in the sum of $25,000 together with reasonable disbursements.
15 December 2014