19 Mar 2014
KIRIWAI CONSULTANTS LTD v HOLMES & ORS [2014] NZHC 512
- Citation
- [2014] NZHC 512
- Court
- High Court
On the s149 claim the Court held the PTL negotiations were not sufficiently certain on 15 November 2012 to be reflected in fair value; fair value of Kiriwai's 10% was assessed at $2.170m and defendants Holmes and Russell were liable jointly and severally for $564,274 (with interest). The shareholders' agreement claim was barred by the settlement deed. Separately, on equitable grounds the Court found that Mr Holmes, as controlling director in circumstances of knowledge, imbalance and plaintiff vulnerability, owed a fiduciary duty to disclose the PTL negotiations and breached it; the proper mea…