18 Dec 2018
LIU v XIE [2018] NZHC 3391
- Citation
- [2018] NZHC 3391
- Court
- High Court
The handwritten note on the 25 May 2014 resolution did not create a binding obligation to allocate 9% of the Auckland company to the plaintiff; the other two shareholders lawfully approved the sale (holding greater than 75%), the plaintiff failed to prove entitlement to the 9% shareholding or any resulting loss, and the equitable and contractual claims (fiduciary breach, constructive trust, restraint, knowing receipt/unjust enrichment) are unproven and therefore dismissed.