1 Jul 2021
MILLIONAIRE MAKERS INT’L LTD v PORTMAN PROJECT LTD [2021] NZHC 1610
- Citation
- [2021] NZHC 1610
- Court
- High Court
Constable lacked authority to execute the investor agreement because his appointment was defective and procured without the lawful director's consent; s158 does not protect the appointment where there was no proper power and good faith is absent; plaintiffs have a good arguable case for proprietary remedies (constructive trust and money paid under mistake) and relief under s43 FTA; there is an identifiable fund ($260,000) and a real risk of dissipation, therefore freezing and preservation orders are justified.