16 Sept 2019
FATUPAITO v MONTAGU [2019] NZHC 2333
- Citation
- [2019] NZHC 2333
- Court
- High Court
The defendant breached ss 131, 135 and 137 of the Companies Act 1993 by permitting the company to continue trading while insolvent and allowing a bankrupt related party unfettered access to company funds, which caused the creditors' losses after 31 March 2015; the defendant is personally liable to compensate the company/creditors for $268,971.35.