28 Apr 2020
FRUIT SHIPPERS LTD v PETRIE [2020] NZHC 749
- Citation
- [2020] NZHC 749
- Court
- High Court
The plaintiff, a discretionary beneficiary of the trustee-shareholder, has standing at common law to bring multiple-derivative claims on behalf of the company where there is a good arguable case of wrongdoer control and a reasonable businessman would pursue the claim; Bartel Holdings Ltd must be joined as defendant; jurisdictional protest by the foreign director was set aside because service without leave met High Court Rules gateways and New Zealand is the appropriate forum; trust deed exemption clause 16.1 does not automatically bar claims because it excludes liability for ordinary mistakes…