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ARTICLE · 23 AUGUST 2011

New Zealand liquidators recognised in Australia

Norton Rose Fulbright Australia
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NZ liquidators' powers recognised in Australia in a series of recent judgments.

AustraliaInsolvency/Bankruptcy/Re-Structuring
David Goldman
David Goldman
Michael Rose
Michael Rose
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Introduction

New Zealand liquidators have had their powers recognised in Australia in a series of recent ground-breaking judgments obtained by Norton Rose Australia.

These decisions in respect of Northern Crest Investments Limited, a New Zealand registered company listed on the ASX, demonstrate the broad powers which the courts are willing to provide to foreign representatives under the Cross-Border Insolvency Act 2008 (Cth) (the CBIA).

Obtaining powers of Australian liquidators

In Lawrence v Northern Crest Investments Limited (In Liq) [2011] FCA 672, her Honour Justice Jagot of the Federal Court of Australia made orders granting interim relief to the foreign representatives of Northern Crest Investments Limited (the Company) under the CBIA, including orders that:

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