COOPER AND ANOR V WATKINSON AND ORS HC AK CIV 2007-404-0486

COOPER AND ANOR V WATKINSON AND ORS HC AK CIV 2007-404-0486

The court found the requested management accounts, annual accounts and tax returns relevant and necessary to test and compare the defendants' reconstruction adjustments against historic accounts for determination of profit as at 30 June 2006, and ordered their production by the specified deadline.

Source-derived case information.

Citation
openlaw-10a45345_4f95_4815_bdb6_a2c4f0e93653.pdf
Parties
First Plaintiff: Jack McLean Cooper; Second Plaintiff: Bendall and Cant Trustee Company Limited; First Defendant: Edward Paul Watkinson; Second Defendant: Cooper Watkinson Textiles Limited; Third Defendant: Sarah Jane Rebecca Watkinson
Court
High Court
Jurisdiction
New Zealand
Judgment Date
3 November 2008
Procedural Posture
Civil Share Sale Dispute / Interlocutory Discovery Hearing Prior to Mediation and Trial
Outcome
Order for production of documents sought in paras 1 and 2 of plaintiff's letter; costs to plaintiff on a 2B basis plus disbursements
Legal Topics
Discovery Orders, Management Accounts, Share Buy Out Valuation, Account Reconstruction
Civil Procedure Company Law Evidence/discovery Discovery Orders Management Accounts Share Buy Out Valuation Account Reconstruction

Source-derived case record

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Legal principles 2 Party arguments 2
Sign in to unlock

Parties

Jack McLean Cooper

First Plaintiff

Bendall and Cant Trustee Company Limited

Second Plaintiff

Edward Paul Watkinson

First Defendant

Cooper Watkinson Textiles Limited

Second Defendant

Sarah Jane Rebecca Watkinson

Third Defendant

Procedural Posture

Civil Share Sale Dispute / Interlocutory Discovery Hearing Prior to Mediation and Trial

Legal Issues

  1. 1 Whether management accounts, annual accounts and tax returns relevant and discoverable
  2. 2 Whether defendants' reconstruction of profit to 30 June 2006 must be supported by underlying historic documents
  3. 3 Whether departures from historically prepared accounts are justifiable for valuation purposes

Ratio Decidendi

The court found the requested management accounts, annual accounts and tax returns relevant and necessary to test and compare the defendants' reconstruction adjustments against historic accounts for determination of profit as at 30 June 2006, and ordered their production by the specified deadline.

Court Disposition

Order for production of documents sought in paras 1 and 2 of plaintiff's letter; costs to plaintiff on a 2B basis plus disbursements

Orders

  • Defendants to provide the documents sought in paragraphs 1 and 2 of the plaintiff's letter annexed to the plaintiff's memorandum by 4.00 p.m. on Wednesday 5 November 2008
  • Costs awarded to the plaintiff on a 2B basis plus disbursements as fixed by the Registrar