30 Mar 2022
By consent the Court modified the prior buy-out orders to permit respondents to give a buy-out notice any time before 1 July 2022 and, if a buy-out does not proceed, ordered sale of the property on the detailed, mutually agreed terms set out in the Appendix, with proceeds applied to mortgage, outgoings and costs and the balance divided one third each.
16 Dec 2021
The Court of Appeal held the brothers are legal co‑owners in equal shares but the mother holds an equitable interest under a constructive trust protecting her reasonable expectation of a home; that expectation does not require retention of the six‑bedroom house but can be satisfied by a one‑third share for each party enabling a buy‑out of the appellant or, failing that, an orderly sale with ancillary orders to protect the mother's interests; appeal allowed and respondents granted leave to buy out appellant's one‑third share on specified terms, with leave reserved for submissions on sale order…
19 Aug 2015
The Court found that removal of the plaintiff as a director and from management in a closely held company amounted to unfairly prejudicial conduct under s174, making a buy‑out just and equitable; fixed valuation date at 18 March 2014, applied capitalisation of future maintainable earnings using accounting years 2011–2014, set a multiplier of 3.8 reflecting company size, concentration and risk, and determined total company fair value at NZD 725,000 yielding the plaintiff's 40% share value of NZD 290,000; ordered first and second defendants to purchase plaintiff's shares on specified terms.
14 Feb 2007
Court ordered that Chabro must purchase Mr Dunning's shares for the fair value fixed previously ($880,000) with staged payments to provide Chabro reasonable time to arrange funding: $440,000 by 15 May 2007, $220,000 plus accumulated interest by 31 October 2007, and the balance including all outstanding interest by 30 April 2008; interest at 7.5% per annum to run from 1 January 2006; costs awarded to plaintiff against Chabro only in specified sums and plaintiff entitled to full reasonable disbursements including expert fees (less Moorest filing fee); Moorest proceeding costs disallowed.