18 Nov 2015
HOUGHTON & ANOR v SAHA & ORS [2015] NZCA 553
- Citation
- [2015] NZCA 553
- Court
- Court of Appeal
The Court granted summary judgment that specified winding up accounts were not prepared in accordance with GAAP (as recorded at [50]/appendix categories 1,4,5,8,10) and held that clause 7.1 of the Deed empowers the foundation partner to allocate partnership losses for the stub period (1 April–31 November 2010) on a performance basis guided by Schedule 1; other factual issues and questions about how the power was exercised remain for substantive hearing.