28 Feb 2020
ATTRACTUM LTD (IN LIQUIDATION) v CHAPMAN [2020] NZHC 318
- Citation
- [2020] NZHC 318
- Court
- High Court
The company was insolvent (balance‑sheet from FYE 2011, cashflow from Sept 2012); the Chapmans, as controlling directors and shareholders, diverted company revenue and retained the vehicle as a company asset; accordingly the liquidators proved entitlement to recover the Chapmans' current account debt of $44,915 and to clawback distributions/dispositions of $333,605; declarations of breaches of ss131, 135, 136 and 137 were warranted; no additional monetary contribution was ordered under the directors' duty claim beyond the judgments entered; costs awarded to plaintiffs on a 2B basis.