8 Aug 2018
RE FISK AND BRIDGMAN [2018] NZHC 2007
- Citation
- [2018] NZHC 2007
- Court
- High Court
The Court directed that RAM and Dagger be treated as one company and their assets pooled; equitable tracing into the common fund and the rule in Clayton's Case are rejected; investors who withdrew more than they invested (net winners) are excluded from distribution; the liquidators shall apply a CPI constant dollar approach to value claims; priority is given to general unsecured creditors and investors' capital shortfall claims ahead of speculative damages claims; and the net contribution model is the appropriate algorithm to distribute both company and trust assets. Liquidators' costs are to…