7 Dec 2017
ULSTERMAN HOLDINGS LIMITED (IN LIQ) v WALLS [2017] NZHC 3040
- Citation
- [2017] NZHC 3040
- Court
- High Court
Walls, as sole director, breached duties under ss 131, 135 and 137 by allowing the company to trade while insolvent (from at least 31 March 2012), preferring shareholder/related interests and causing deterioration in the company's financial position; accordingly the Court ordered Walls to contribute $489,810.06 to company assets plus interest, with costs to the liquidators.