9 Oct 2015
GRANT & ANOR v GUO [2015] NZHC 2480
- Citation
- [2015] NZAR 1585
- Court
- High Court
The director breached s194 and s10 by failing to keep proper accounting records and to prepare/supply financial statements; those failures created substantial uncertainty and materially impeded the liquidation such that, absent evidence of reasonable steps or reasonable reliance satisfying s300(2), the Court exercised its discretion under s300(1)(b) to declare the director personally liable for all company debts and to order payment of liquidator fees incurred in the liquidation.