28 Oct 2016
GUMBATOV v ARAKELIAN [2016] NZHC 2582
- Citation
- [2016] NZHC 2582
- Court
- High Court
The 7 April 2011 document was intended to be contractually binding and sufficiently certain; its terms, read with accepted oral variations and the bespoke schedule, show the $380,000 consideration was to be met by plaintiff providing funds into the companies to pay company debts (capped by the itemised liabilities), with $80,000 of the loan balance being applied as part of that consideration; parties agreed plaintiff would receive 50% of shares (not 33%); on the evidence plaintiff is not entitled to an order to transfer an additional 50% back to him; defendant did not establish forgery of his…
- Sale of shares
- Consideration
- Set-off
- Variation/collateral agreement
- Specific performance (share transfer)
- Alleged forgery/signature dispute