ANZ Banking Group (NZ) Ltd v Gibson - [1981] 2 NZLR 513

Company law — Action by debenture holder against guarantors of debenture — Meaning of "payable on demand" in debenture — Demand served on limited liability company at registered office — Receivers appointed two hours later — Whether demand validly served and receivers validly appointed — Whether debenture holder could recover legal costs and expenses by way of damages — Companies Act 1955, ss 218 and 460 — Code of Civil Procedure, R 555.