12 Aug 2013
GREEN GECKO LIMITED v COX [2013] NZHC 2034
- Citation
- [2013] NZHC 2034
- Court
- High Court
The shares were originally allotted with a view to public offers and were offered to the public without a registered prospectus; under s6(7) the term 'issuer' includes the offeror of previously allotted securities, and as the registered holder/offeror Mr Cox was the issuer for purposes of s37(6); his status as a bare trustee or non-director did not absolve him as between the public and the registered offeror; therefore Green Gecko is entitled to repayment of $700,000 plus prescribed interest from the respective payment dates.