31 Jul 2020
IL FORNO LTD v KLEINE [2020] NZHC 1889
- Citation
- [2020] NZHC 1889
- Court
- High Court
On the evidence the $10,000 from Flow Control to Andrew was a loan and Flow Control/James did not acquire a beneficial 50% share; an enforceable remuneration arrangement for accounting/financial management existed only to a limited extent (no more than $500/month from Jan 2007 increasing to no more than $1,500/month later) and payments reflected that; the defendant breached duties by failing to keep proper accounting records and to file tax returns, causing taxable penalties and costs; Flow Control failed to prove entitlement to quantum meruit for the broad services claimed; consequential cla…