8 Jun 2015
ALPHA BOX PROPERTY HOLDINGS LIMITED (in liquidation) v WIEKART [2015] NZHC 1257
- Citation
- [2015] NZAR 1257
- Court
- High Court
Contemporaneous accounting records and admissions established the transfers were undocumented, unsecured inter-company advances made during winding down with no prospect of repayment; defendant failed to discharge onus of proving they were legitimate expense reimbursements; therefore defendant breached duties in ss131,133 and 137 and it was just and fair to order him to contribute the full amount transferred ($1,021,692.83) to company assets under s301(1)(b)(ii).