42414 Satisfied customers
Expert in: Family Law, Legal, Estate Law, Real Estate Law, Criminal Law, Employment Law, Business Law, Consumer Protection Law, Bankruptcy Law, Traffic Law, Personal Injury Law.
Verified lawyers, 10+ years of experience
Save time and money. Get specialized help.
42414 Satisfied customers
Jessica
Consultant
Chris The Lawyer, Expert
Hi
I am a New Zealand lawyer based in Wellington and will help you with your question today. Please give me a minute to read the question
Chris The Lawyer, Expert
Have you asked for any relief due to Covid? Are you personal guarantors of the lease? How long does the lease have to run? It can be hard to defend these cases unfortunately, because if the lease isnt paid then they can apply to liquidate your company
Chris The Lawyer, Expert
If you are in Australia they can enforce a New Zealand judgment for the guarantee in Australia, although it is expensive for them to do so. If the company is insolvent and unable to trade this may be inevitable
Chris The Lawyer, Expert
It depends on whether they try to enforce the personal guarantee in Australia-at that point you may need to either pay but you should try to find a replacement tenant. They cannot reject a suitable tenant. You could delay the liquidation by arguing you have not been given relief under the lease because of Covid 19 (if they have not given you any relief)
Chris The Lawyer, Expert
You could invoke the arbitration clause and use this to hold off the liquidation-that would possibly get you a month or two or more delay
Chris The Lawyer, Expert
If you have the standard ADLS lease it is part of the lease, as is the right to relief for Covid issues
Chris The Lawyer, Expert
You can nominate an arbitrator from aminz.org.nz
Chris The Lawyer, Expert
If you ask and he refuses this could slow down the liquidation, as you have the right to arbitrate
Chris The Lawyer, Expert
You need to make a formal application for a stay of the liquidation
Chris The Lawyer, Expert
Yes, the fees would be fairly substantial-the High Court stay would be around $5000 and the arbitration a similar amount
Chris The Lawyer, Expert
No-if you wanted to brief me off site you should contact me at www.lahatte.lawyer
Chris The Lawyer, Expert
That is a form under the High Court rules and requires an application and affidavit in support