4 Dec 2012
FORRESTERS NOMINEE COMPANY LTD & HUBBARD CHURCHER TRUST MANAGEMENT LIMITED HC TIM CIV-2011-476-000642
- Citation
- openlaw-b3f34dd8_77c8_4e09_92a0_d2a27a086c0a.pdf
- Court
- High Court
Because the refined overpayment calculations showed recoverable sums were relatively small and pursuing clawback would be uneconomic and disproportionate (approximately 1.54% of the fund), the court exercised its discretion to abandon the clawback requirement; it also approved the use of the NZX annual return for distribution calculations and fixed 31 March 2007 as the start date for allocation of surplus assets, and directed a timetable to resolve costs issues promptly.