Re Your Size Fashions Ltd - [1990] 3 NZLR 727

Company law — Winding up — Duties of provisional liquidator — Official Assignee, as provisional liquidator of company, considered that there were no funds available for unsecured creditors — He advised debenture holder that he was not prepared to realise assets unless debenture holder appointed him as its agent and gave indemnity — Whether liquidator had a duty to proceed with liquidation — Whether liquidator was entitled to call on debenture holder to appoint him as its agent and give indemnity — Companies Act 1955, s 251 — Companies (Winding Up) Rules 1956, r 58.