22 Apr 2016
CALVERT v REYNOLDS [2016] NZCA 151
- Citation
- [2016] NZCA 151
- Court
- Court of Appeal
The Court held that the fraudulent concealment of the $740,000 asset by the trustees' agents (Messrs James and Miller) was attributable to the trustees and postponed the limitation period under s28 until the fraud could with reasonable diligence have been discovered; accordingly the liquidator's claim was timely and judgment for $740,000 with interest from 6 July 2009 was ordered; the director was held liable on cross-appeal for the same sum and the High Court stay was discharged.