15 May 2017
OʼNEILL EARTHWORKS LTD (IN LIQ) v OʼNEILL [2017] NZHC 989
- Citation
- [2017] NZHC 989
- Court
- High Court
On uncontradicted affidavit evidence the company was insolvent by 1 April 2011; the defendant, as sole director, breached ss131,135,136 and 137 by continuing trading, diverting funds, taking drawings and failing to account GST, thereby causing creditor losses; under s301 the court ordered the director to contribute $456,542.50 (creditor claims plus diverted funds) plus interest and costs to compensate the company and its creditors.