30 May 2022
ELIAHU v ELIAHU [2022] NZHC 1226
- Citation
- [2022] NZHC 1226
- Court
- High Court
The Court found there was a serious question to be tried based on affidavit evidence of likely unauthorised use of company funds by the director; the balance of convenience favoured an injunction because funds would remain in the companies, the companies face risk from continued drawings and the relative strength of plaintiffs' case outweighed respondent's; leave for a derivative action under s165 was granted because the statutory threshold was met (deadlock and companies not pursuing claims) and, applying the prudent business person standard, the prospects, costs, absence of company action a…