Failing to act promptly on court orders to disclose documents required by receivers of Pyne Holdings, director George Kerr has been ordered to pay receivers $103,300 for their full costs in chasing him along.
In April 2021, Bank of New Zealand put Pyne Holdings Ltd into receivership claiming some $67.7 million. Mr Kerr is Pyne Holdings’ sole director. Receivers from insolvency specialists Calibre Partners were refused access to Pyne Holdings records. It took several contested court hearings to get a court ruling ordering Mr Kerr release the information. He stalled. Calibre Partners said it was bordering on contempt of court that Mr Kerr failed to respond. It took nearly six months for Mr Kerr to provide information. He said delay was caused by the size of the task; Pyne Holdings records had to be obtained and collated from multiple sources including lawyers and accountants.
Justice van Bohemen ruled there was no justification for the extended delay. Receivers were entitled to recover all costs incurred in their multiple applications to court needed to force Mr Kerr’s hand.
Jackson v. Kerr – High Court (19.01.22)
22.030