22 Mar 2016
DRASKOVICH v GOODFELLOW [2016] NZHC 496
- Citation
- [2016] NZHC 496
- Court
- High Court
Court held that Explore's appropriation and ADWS's payment of substantial r&m, marketing and management fees during the period in dispute was oppressive because fees were appropriated without prior consultation, calculated without adequate contemporaneous records and produced an unjust detriment to the Plaintiffs; however the 2012 netting off was approved by the directors via the 2012 financial statements and was not oppressive; constructive trust declaration was declined; primary remedy ordered was appointment of an independent chartered accountant to quantify fair fees and interest due and…