8 Mar 2019
COOPER v DEBUT HOMES LIMITED (IN LIQUIDATION) [2019] NZCA 39
- Citation
- [2019] 3 NZLR 57
- Court
- Court of Appeal
The Court held the appellant did not breach ss131 or 135 because completing and selling the properties was a reasonable commercial decision made in good faith to maximise recovery for creditors; GST liabilities were largely pre-existing and sale agreements were triggers rather than new agreements with the IRD so s136 did not apply; accordingly the High Court orders for a s301 contribution and partial setting aside of the GSA under s299 were quashed. The Court upheld that certain payments to the director were voidable under s292 and required repayment; s138 defence was not made out.