20 Mar 2007
TRINITY FOUNDATION (SERVICES NO 1) LTD V DOWNEY & ANOR HC AK CIV 2006-404-001296
- Citation
- openlaw-b1cff1ca_b7d7_4722_aec3_ad9e4df9f72e.pdf
- Court
- High Court
The court held preliminarily that Trinity's challenge to the liquidators' estimate is not clearly unsustainable and would survive a strike-out; however, because a decisive issue remains—whether proceeds of any successful actions against directors would constitute trust assets (and thereby increase the trust's assets available to satisfy Trinity's claim)—the court ordered the plaintiff to file a memorandum addressing that point within 21 days before final determination; costs reserved.