Stay on Proceedings on Petition for Winding Up

New Zealand Law Journal, pp. 156-157, May 1979

2 Pages Posted: 1 Feb 2010 Last revised: 1 May 2015

See all articles by John Prebble KC

John Prebble KC

Victoria University of Wellington, Te Herenga Waka - Faculty of Law; Institut für Österreichisches und Internationales Steuerrecht, Wirtschaftsuniversität Wien; University of Notre Dame Australia - School of Law

Abstract

Re Holiday Tours (NZ) Ltd (Unreported, July 1978, M281/78, SC, Christchurch, Somers J) involved a contractual dispute. One party, Travelwide, filed and served a petition to wind up the other party, Holiday Tours (NZ) Ltd. Holiday Tours then sought a stay of proceedings. Somers J found that a winding-up petition was not an appropriate remedy for a disputed debt with a solvent company. The case focused on whether the defence of counterclaim or set-off made the debt “disputed." The balance of convenience lay in favour of Holiday Tours and the stay of proceedings was granted.

Keywords: Stay of Proceeding, Winding Up, Disputed Debt, Set-off, Balance of Convenience

JEL Classification: K12

Suggested Citation

Prebble KC, John, Stay on Proceedings on Petition for Winding Up. New Zealand Law Journal, pp. 156-157, May 1979, Available at SSRN: https://ssrn.com/abstract=1545526

John Prebble KC (Contact Author)

Victoria University of Wellington, Te Herenga Waka - Faculty of Law ( email )

PO Box 600
Wellington, 6140
New Zealand
+64 4 463 6311 (Phone)
Papers Indexed at HOME PAGE (Fax)

HOME PAGE: http://www.victoria.ac.nz/law/staff/prebble-scholarly.aspx

Institut für Österreichisches und Internationales Steuerrecht, Wirtschaftsuniversität Wien ( email )

Welthandelsplatz 1
Vienna, Wien 1020
Austria

University of Notre Dame Australia - School of Law

Sydney Campus, New South Wales
Australia

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