20 May 2010
REYNOLDS AS LIQUIDATOR OF BAR AND BISTRO LIMITED (IN LIQUIDATION) AND ANOR V LOCHIEL CORPORATION LIMITED AND ANOR HC AK CIV-2009-404-501
- Citation
- openlaw-62768736_7cc8_4bdf_94b9_1bce06932f7e.pdf
- Court
- High Court
On the liquidator's affidavit and inquiry under s301(1) the Court was satisfied the second defendant caused the company to incur $156,250 of unsecured liabilities at a time when he had no reasonable grounds to believe the company could meet them, thereby breaching s136; the Court therefore ordered under s301(1)(b)(ii) that he contribute $156,250 to the company, with interest and costs.