3 Jul 2020
GLOBAL COVER INSURANCES LTD (IN LIQ) v MARIO [2020] NZHC 1556
- Citation
- [2020] NZHC 1556
- Court
- High Court
The company was balance sheet insolvent from 30 June 2015 and cashflow insolvent from 20 July 2015; the defendant director breached ss 135, 136 and 137 by continuing to trade and incur liabilities she could not reasonably have believed the company could meet; causation, high culpability and lengthy duration justified 100% contribution to losses; director ordered to pay $30,266.53 plus interest and costs.