28 Oct 2015
AUCKLAND CRASH REPAIRS LTD (IN LIQ) v VAN ROOY [2015] NZHC 2640
- Citation
- [2015] NZHC 2640
- Court
- High Court
The company was insolvent from at least 31 March 2010; the directors continued to trade and drew funds for personal benefit, breaching duties under ss131,135 and 137 and the statutory requirements for director remuneration under s161; the first defendant must repay his shareholder current account drawings; both defendants are personally liable to repay unauthorised/ unfair salaries; both defendants are jointly and severally liable under s301 for losses caused by continued trading, assessed at $426,090.45; awards of interest and costs follow.