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Companies Act 1993

Liquidations - Duties, rights, and powers of liquidators

260A: Liquidator may assign right to sue under this Act

You could also call this:

“Liquidator can transfer their right to sue to someone else with court approval”

If you are a liquidator, you have the right to sue under this Act. You can give this right to someone else, but you need to get the court’s approval first. You or the person you want to give the right to can ask the court for approval. If someone is being sued or might be sued, they can oppose this request. This means they can tell the court why they think you shouldn’t be allowed to give away your right to sue.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM321920.

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Part 16 Liquidations
Duties, rights, and powers of liquidators

260ALiquidator may assign right to sue under this Act

  1. The liquidator may, if the court has first approved it, assign any right to sue that is conferred on the liquidator by this Act.

  2. The application for approval may be—

  3. made by the liquidator or the person to whom it is proposed to assign the right to sue; and
    1. opposed by a person who is a defendant to the liquidator's action, if already begun, or a proposed defendant.

      Notes
      • Section 260A: inserted, on , by section 21 of the Companies Amendment Act 2006 (2006 No 56).