Re Burgess Homes Ltd - [1987] 1 NZLR 513

Company law — Winding up — Just and equitable ground — Company in liquidation owning all but one of the shares in a prosperous private company — Shares having no voting rights attached and hence holder not able to control that company — Holder of shares entitled to share in the distribution of assets on a winding up — Shares worth more if that company were wound up than if sold — Whether liquidators of company in liquidation could successfully petition for winding up of prosperous company on just and equitable ground in order to recover a greater sum for unsecured creditors — Companies Act 1955, s 217(f).

Company law — Winding up — Disposition of "property" of a company at an undervalue within three year period before commencement of winding up — Meaning of word "property" — Whether voting rights attached to shares constitute "property" — Companies Act 1955, s 311C(2).