New Zealand Case Law: Decisions & Judgments

Topic

Corporate opportunity doctrine

Legal area

Court

22 Dec 2022

BEVERLEY v DRYLANDCARBON GP ONE LTD [2022] NZHC 3606

Citation

[2022] NZHC 3606
Court

High Court

Leave granted under s165 because the proposed derivative claims were at least arguable on the evidence (diversion of corporate opportunity, misuse of company information, breach of confidence and dishonest assistance), no company action to pursue them existed, the potential commercial value justified litigation against estimated costs, and a prudent business person would pursue the claims; s165(3)(a) threshold met and mandatory s165(2) factors satisfied.
30 Sept 2015

PRECAST NZ LIMITED v ANYSTEP LIMITED [2015] NZHC 2375

Citation

[2015] NZHC 2375
Court

High Court

There is no jurisdictional bar to Anystep joining Paul Cane by third party notice under r 4.4(1)(c); r 5.57 did not compel joinder as an additional counterclaim defendant because the remedy sought against Cane (damages for breach of fiduciary duty/loss of opportunity) is distinct from the relief in the counterclaim against Precast; Anystep has sufficient evidential basis (including newly located email) to raise a real question of fact concerning Cane's conduct and loss, delay is explicable and not prejudicial at the interlocutory stage, and the interests of justice and avoidance of duplicativ…
13 Jun 2012

BURTON V THOMPSON HC AK CIV 2012-404-1465

Citation

openlaw-e7ed1941_3084_4847_8b26_030099612738.pdf
Court

High Court

Leave to bring derivative proceedings was dismissed because a receiver had been validly appointed and may bring proceedings on behalf of the company; no interim injunction was granted on the corporate opportunity claim because of anti‑competitive effect, enforceability concerns and the balance of convenience; a limited preservation order was justified in respect of goods valued at US$15,657 acknowledged to be in respondent's possession, for 20 working days (extendable 20 working days if receiver files proceedings), conditioned on return or payment to the receiver; all other interim relief was…

New Zealand Case Law

BEVERLEY v DRYLANDCARBON GP ONE LTD [2022] NZHC 3606

PRECAST NZ LIMITED v ANYSTEP LIMITED [2015] NZHC 2375

BURTON V THOMPSON HC AK CIV 2012-404-1465