4 Feb 2013
HOGS BREATH CAFE WELLINGTON 2006 LIMITED (IN LIQUIDATION) & ORS V SM BAKER HC WN CIV-2012-485-2559
- Citation
- openlaw-adb33c09_8b0a_44c3_b132_e3e074b3b197.pdf
- Court
- High Court
On the unchallenged evidence the defendant had an overdrawn shareholder current account of $315,817.22 repayable on demand and failed to repay after demand; summary judgment is appropriate. The company paid $37,510.36 of vehicle loan instalments which either represent company property or advances to the defendant who gained the benefit and later disposed of the replacement vehicle; under s301 the defendant is liable to repay that sum. Interest at 5% p.a. from 26 November 2012 and solicitor client costs are appropriate.