30 Jan 2018
GRANT AND KHOV AS LIQUIDATORS OF K-PACK INTERNATIONAL LTD (IN LIQUIDATION) v GIFFORD [2018] NZHC 26
- Citation
- [2018] NZHC 26
- Court
- High Court
Director breached statutory record-keeping and financial statement obligations under s 194 and the FRA; those breaches materially contributed to KPI's inability to pay debts, created substantial uncertainty as to assets and liabilities and substantially impeded the liquidation; accordingly the director is personally liable for the company's debts ($87,009.40) and ordered to contribute $45,000 toward liquidators' net fees, with interest on the debt from liquidation date to judgment and costs to plaintiffs on a 2B basis.