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Companies Act 1993

Voluntary administration - Administrator's liability and indemnity for debts of administration

239ADK: Court may exempt administrator from liability for rent

You could also call this:

“Court can release administrator from paying rent, but company still responsible”

The court can free an administrator from having to pay rent and other payments mentioned in section 239ADI. However, if the court does this, it doesn’t mean the company is off the hook. The company still has to pay what it owes. This rule is part of the Companies Act 1993 and applies when a company is in voluntary administration.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM321622.

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239ADJ: Administrator not liable for rental if non-use notice in force, or

“Administrator not required to pay rent for unused property during voluntary administration”

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239ADL: Administrator's indemnity, or

“Protection from personal liability for company administrators”

Part 15A Voluntary administration
Administrator's liability and indemnity for debts of administration

239ADKCourt may exempt administrator from liability for rent

  1. The court may exempt an administrator from liability for rent and other payments under section 239ADI, but the court's order does not affect the company's liability.

Compare
  • Corporations Act 2001 s 443B(8) (Aust)
Notes
  • Section 239ADK: inserted, on , by section 6 of the Companies Amendment Act 2006 (2006 No 56).