19 Nov 2014
MCGREAL FLOOR COVERINGS LTD (IN LIQUIDATION) v MCGREAL [2014] NZHC 2884
- Citation
- [2014] NZHC 2884
- Court
- High Court
The company was insolvent from at least 31 March 2007 and unable to pay debts from end of December 2007; the defendant, as sole director, continued trading without responsible consideration of the company's financial position, breached duties under the Companies Act and caused loss to creditors; accordingly the defendant must contribute NZD 240,330.04 to the company, interest to run from issue of proceedings, and plaintiffs are entitled to costs on a 2B basis.