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Interim liquidators cannot execute commutation agreements, says New Zealand court

By Dominic Lawson

09 October 2018

Interim liquidators cannot execute commutation agreements, says New Zealand court Auckland, New Zealand / iStock.com/stefaniedesign

A New Zealand court has refused to allow an insolvent insurance company to enter into a compromise plan with its Gibraltar-based creditor, finding that its interim liquidators do not have the powers to execute such agreements.