17 Nov 2017
AUTUMN TREE LIMITED v BISHOP WARDEN PROPERTY HOLDINGS LIMITED [2017] NZHC 2838 [17 November 2017]
- Citation
- [2017] NZHC 2838
- Court
- High Court
The agreement was invalid and did not give Bishop an equitable interest because Tina lacked actual authority and could not be treated as having customary authority as one of two directors to unilaterally sell the company’s sole substantial asset (a major transaction requiring a special resolution); s18(1)(b) and s18(1)(c) did not operate to validate her actions, so the caveat had no reasonably arguable basis and was removed.