16 Aug 2016
Stacey v Watson [2016] NZHC 1891
- Citation
- [2016] NZHC 1891
- Court
- High Court
No fiduciary duty arose between the directors/shareholders on the facts; the sale process was a commercial decision and plaintiffs failed to prove oppressive, unfairly discriminatory or unfairly prejudicial conduct under s174; employment remuneration and buy-back did not objectively prejudice the shareholders and claims for compensation fail.