✨ Rules for Winding Up Companies
Dec. 8.] THE NEW ZEALAND GAZETTE. 1495
shall direct. Every such investment shall be made in the joint names of the Official Liquidator and the Registrar, and no security or instrument representing such investment shall be sold, disposed of, or otherwise dealt with except upon a direction for that purpose signed by the Official Liquidator and countersigned by the Registrar, or under an order to be made by the Judge.
- All dividends, interest, or other profits to accrue or be received upon any such investment shall from time to time, as received, be paid into the bank to the credit of the Official Liquidator of the company.
Meetings of Creditors or Contributories.
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When the Judge shall direct a meeting of the creditors or contributories of the company to be summoned under sections 154 or 209 of the said Act, the Official Liquidator shall give notice, in writing, seven clear days before the day appointed for such meeting, to every creditor or contributory of the time and place appointed for such meeting, and of the matter upon which the Judge desires to ascertain the wishes of the creditors or contributories; or, if the Judge shall so direct, such notice may be given by advertisement, in which case the object of the meeting need not be stated, and it shall not be necessary to insert such advertisement in the Gazette.
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The votes of the creditors or contributories of the company, at any meeting summoned by the direction of the Judge, may be either personally or by proxy; but no creditor shall appoint a proxy who is not a creditor of the company whose debt or claim has been allowed, and no contributory shall appoint a proxy who is not a contributory of the company.
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The direction of the Judge for any meeting of creditors or contributories under sections 154 or 209 of the said Act, and the appointment of a person to act as chairman of any such meeting, shall be testified by memorandum signed by the Registrar.
Direction or Sanction of the Judge.
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The sanction of the Judge to the drawing, accepting, making, and indorsing of any bill of exchange or promissory note by any Official Liquidator shall be testified by a memorandum on such bill of exchange or promissory note, signed by the Registrar.
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Every application for the sanction of the Judge to a compromise with any contributory or other person indebted to the company shall be supported by the affidavit of the Official Liquidator that he has investigated the affairs of such contributory or person, and stating his belief that the proposed compromise will be beneficial to the company, and his reasons for such belief; and the sanction of the Judge thereto shall be testified by a memorandum, signed by the Registrar, on the agreement of compromise, unless any party shall desire to appeal from the decision of the Judge, in which case an order shall be drawn up for that purpose.
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The direction or sanction of the Judge for any other proceeding or act to be taken or done by the Official Liquidator shall be obtained upon summons, and an order shall be drawn up thereon, unless the Judge shall otherwise direct.
Applications to the Court or Judge under Sections 197, 198, 201, 228, 229.
- Every application under sections 197, 198, or 201 of the said Act shall be made by petition or motion, or, if the Judge shall so direct, by summons at Chambers; and every application under sections 228 or 229 of the said Act shall be made by petition.
Orders.
- All orders made in Chambers shall be drawn up as an order of a Judge, unless specially directed to be drawn up as an order of Court.
Advertisements.
- When an advertisement is required for any purpose, except where otherwise directed by these rules the advertisement shall be inserted once in the Gazette, and in such other newspaper or newspapers, and for such number of times as may be directed. The Judge may, in such cases as he shall think fit, dispense with any advertisements required by these rules.
Admission of Documents.
- Any party to any proceeding in Court or Chambers relating to the winding-up of the company may, by notice in writing, call on any other party thereto competent to admit the same to admit any document, saving all just exceptions; and, in case of refusal or neglect so to admit, the costs of proving such document shall be paid by the party so refusing or neglecting, unless the Judge shall be of opinion that the refusal to admit was reasonable; and no costs of proving any document shall be allowed unless such notice shall have been given, except in cases where the omission to give such notice has been, in the opinion of the Registrar on taxation, a saving of expense.
Affidavits.
- Where an order shall have been made for the winding-up of any company, any person intending to use any affidavit in any proceeding under such order shall file the same in the Supreme Court office where the proceedings are pending, and give notice thereof to the Official Liquidator. The person, other than the Official Liquidator, filing the affidavit shall not be required to take an office copy thereof; but an office copy thereof shall be taken by the Official Liquidator, and he shall produce the same at the hearing of any application or proceeding upon which it is intended to be used, unless the Judge shall otherwise direct.
File of Proceedings.
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All documents or proceedings under these rules shall be filed with the Registrar in like manner as the same are filed in an action under the ordinary practice of the Court.
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All orders, exhibits, admissions, memorandums, and office copies of affidavits, examinations, depositions, and all other documents relating to the winding-up of any company shall be filed by the Official Liquidator, as far as may be, in one continuous file; and such file shall be kept by him, or otherwise, as the Judge may from time to time direct.
Every contributory of the company, and every creditor thereof whose debt or claim has been allowed, shall be entitled, at all reasonable times, to inspect such file free of charge, and, at his own expense, to take copies or extracts from any of the documents comprised therein, or to be furnished with such copies or extracts at a rate not exceeding threepence per folio of seventy-two words; and such file shall be produced in Court, or before the Judge, and otherwise, as occasion may require.
Provisional Official Liquidators.
- All the above rules relating to Official Liquidators shall, as far as the same are applicable, and subject to the direction of the Judge in each case, apply to Provisional Liquidators.
Attendance and Appearance of Parties.
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Every person for the time being on the list of contributories of the company left at the Chambers of the Judge by the Official Liquidator, and every person having a debt or claim against the company allowed by the Judge, shall be at liberty, at his own expense, to attend the proceedings before the Judge; and shall be entitled, upon payment of the costs occasioned thereby, to have notice of all such proceedings as he shall by written request desire to have notice of; but, if the Judge shall be of opinion that the attendance of any such person upon any proceedings has occasioned any additional costs which ought not to be borne by the funds of the company, he may direct such costs, or a gross sum in lieu thereof, to be paid by such person, and such person shall not be entitled to attend any further proceedings until he has paid the same.
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The Judge may from time to time appoint any one or more of the contributories or creditors, as he thinks fit, to represent before him, at the expense of the company, all or any class of the contributories or creditors upon any question as to a compromise with any of the contributories or creditors, or in and about any other proceedings before him relating to the winding-up of the company, and may remove the person or persons so appointed.
In case more than one person shall be so appointed, they shall unite in employing the same solicitor to represent them.
- No contributory or creditor shall be entitled to attend any proceedings at the chambers of the Judge unless and until he has entered in a book, to be kept there for that purpose, his name and address, and the name and address of his solicitor, if any, and, upon any change of his address or of his solicitor, his new address and the name and address of his new solicitor.
Services of Summonses, Notices, &c.
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Services upon contributories and creditors shall be effected (except when personal service is required) by sending the notice or a copy of the summons or order or other proceeding through the post in a prepaid letter addressed to the solicitor of the party to be served, if any, or otherwise to the party himself, at the address entered or last entered pursuant to the preceding rule; or if no such entry has been made, then, if a contributory, to his last-known address or place of abode; and, if a creditor, to the address given by him pursuant to the foregoing Rule 23; and such notice, or copy, summons, order, or other proceeding shall be considered as served at the time the same ought to be delivered in the due course of delivery by the post office, and notwithstanding the same may be returned by the post office.
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No service under these rules shall be deemed invalid by reason that the first name or any of the first names
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Rules for Winding Up Companies
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⚖️ Justice & Law Enforcement28 November 1887
Supreme Court, Companies Act, Winding Up, Rules, Liquidator, Official Liquidator, Debts, Claims, Adjudication, Contributories, Sales, Property, Calls, Payment, Securities, Investment
NZ Gazette 1887, No 76