✨ Rules for Winding Up Companies
1496
THE NEW ZEALAND GAZETTE.
[No. 76
of the person on whom service is sought to be made has been omitted, or designated by initial letters, in the list of contribu r: s, or in the summons, order, notice, or other document wherein the name of such contributory or creditor is contained, provided the Judge is satisfied that such service is in other respects sufficient.
Termination of Winding-up.
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Upon the termination of the proceedings in Chambers for the winding-up of any company a balance-sheet shall be brought in by the Official Liquidator of his receipts and payments, and verified by his affidavit; and the Official Liquidator shall pass his final account, and the balance, if any, due thereon shall be certified; and upon payment of such balance in such manner as the Court or Judge shall direct the bond entered into by the Official Liquidator and his sureties, or other security given by him, may be vacated or released.
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When the Official Liquidator has passed his final account, and the balance, if any, certified to be due thereon has been paid in such manner as the Judge shall direct, a certificate shall be made by the Registrar that the affairs of the company have been completely wound up; and, in case the company has not been already dissolved, the Official Liquidator shall, immediately after such certificate has become binding, apply to the Judge for an order that the company be dissolved from the date of such order.
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When the proceedings for winding-up any company have been completed, the file of proceedings and the book containing the Official Liquidator’s account shall be deposited in the office of the Registrar in which such proceedings have been taken.
Duties of Solicitor of Official Liquidator.
- The solicitor of the Official Liquidator shall conduct all such proceedings as are ordinarily conducted by solicitors of the Court; and, where the attendance of his solicitor is required on any proceeding in Court or Chambers, the Official Liquidator need not attend in person except in cases where his presence is necessary in addition to that of his solicitor, or the Judge shall direct him to attend.
Costs and Fees.
- The Court may, in all matters before it, award such costs as it shall think fit, and may appoint the costs to be allowed to solicitors and others in respect of proceedings under these Rules, in addition to the costs actually paid out of pocket, other than fees to counsel; and the Court may make such order as to the taxation of costs as it thinks fit. The amount of such costs shall be regulated, as far as may be, according to the scale of costs set forth in the First Schedule hereto, and such costs shall not exceed the scale therein set forth, except the same shall be specially allowed by the Court.
Where, in any matter, no special costs are appointed the Judge shall fix the costs at the time of the hearing, or may direct that the same shall be allowed after taxation by the Registrar.
- The fees of Court set forth and referred to in the Second Schedule hereto shall be paid in relation to proceedings in the Court under the said Act, and shall be collected and paid in like manner as other fees of Court are collected and paid.
Forms.
- The forms set forth or referred to in the Third Schedule to these rules, with such variations as the circumstances of each case may require, may be used for the respective purposes mentioned in such Schedule.
Power of Judge.
- The power of the Court, and of the Judge sitting in Chambers, to enlarge or abridge the time for doing any act, or taking any proceedings to adjourn or review any proceeding, and to give any direction as to the course of proceeding, is unaffected by these rules.
General Directions.
- The general practice of the Court, including the course of proceeding and practice at Judges’ Chambers under the general rules of Court for the time being in force under “The Supreme Court Act, 1882,” shall, in cases not provided for by “The Companies Act, 1882,” or these rules, and so far as the same are applicable and not inconsistent with the said Act or these rules, apply to all proceedings for winding up a company. And any Judge of the said Court may do in Chambers any act which the Court is authorised to do.
FIRST SCHEDULE.
Costs and Charges to be allowed to Solicitors.
To the solicitor of the petitioner, for all services up to the appointment of the Official Liquidator,— £ s. d.
(1.) Where the estimated value of the assets of the company to be wound up does not exceed £1,000, a sum not exceeding .. .. .. 10 0 0
(2.) Where the estimated value of the assets of the company as aforesaid exceeds £1,000, an additional sum not exceeding £5 per cent. on such value; but not, in the whole, exceeding .. .. .. .. .. 25 0 0
To the solicitor of the Official Liquidator, including all services until company fully wound up, there may be allowed costs on the following scale:— £ s. d.
(1.) Where the net value of the property realised on the winding-up—including all debts collected, and sums paid by contributories—does not exceed £1,000, a sum not exceeding 20 0 0
(2.) Where such net value as aforesaid exceeds £1,000, a sum, in addition to the foregoing, of £5 per cent. on the amount realised, but not exceeding in the whole .. .. .. 40 0
To the solicitor of any contributory or class of contributories, or any creditor or class of creditors, where the Judge thinks costs ought to be allowed, such sum as the Judge may fix in respect of the application or matter, or such as shall be allowed by the Registrar on taxation.
In cases where an action is brought under the ordinary process of the Court, the costs in any such case will be regulated by the general practice of the Supreme Court.
SECOND SCHEDULE.
Fees of Court. £ s. d.
For every petition lodged .. .. .. 1 0 0
For every order in Court .. .. .. 0 10
For every order in Chambers.. .. .. 0 10
For every office copy of an order .. .. 0 5 0
For every certificate by the Registrar .. .. 0 5 0
For every other proceeding not herein specially mentioned the like fee, as nearly as may be, as would be payable for the time being in matters arising under the Code of Civil Procedure annexed to “The Supreme Court Act, 1882.”
THIRD SCHEDULE.
No. 1.—Advertisement of Petition. [Rule 4.]
In the matter of “The Companies Act, 1882,” and of the Company.
NOTICE is hereby given that a petition for the winding-up of the above-named company by the Supreme Court [or subject to the supervision of the Supreme Court] was, on the day of , 18 , presented to Mr. Justice , a Judge of the Supreme Court by the said company [or by A.B., of , a creditor (or contributory) of the said company [or as the case may be]. And the said petition is directed to be heard before a Judge of the said Court on the day of , 18 ; and any creditor or contributory of the said company desirous to oppose the making of an order for the winding-up of the said company under the above Act should appear at the time of hearing by himself or his counsel for that purpose; and a copy of the petition will be furnished to any creditor or contributory of the said company requiring the same, by the undersigned, on payment of the regulated charge for the same.
C. and D., of &c. [agents for E. and F., of &c.],
Solicitors for the petitioner.
No. 2.—Affidavit verifying Petition. [Rule 7.]
In the Supreme Court of New Zealand, District.)
In the matter, &c.
I, A.B., of &c., make oath and say that such of the statements in the petition now produced and shown to me, and marked with the letter A, as relate to my own acts and deeds are true, and such of the said statements as relate to the acts and deeds of any other person or persons I believe to be true.
Sworn, &c.
No. 3.—Order for Winding up by the Court. [“The Companies Act, 1882,” ss. 141–147.]
In the Supreme Court of New Zealand, District.) of , 18 .
In the matter, &c.
Upon the petition of the above-named company [or A.B., of &c., a creditor (or contributory) of the above-named company] on the day of , 18 , preferred unto a Judge of the Supreme Court, and upon hearing counsel for the petitioner, and for , and upon reading the said petition, an affidavit of (the said petitioner) filed, &c.,
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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