30 May 2014
NEWMAN V LUST [2014] NZHC 1220
- Citation
- [2014] NZHC 1220
- Court
- High Court
Given the prolonged, irreconcilable deadlock among D4's directors over demanding repayment of an overdue loan to ACTL, the evident conflict of interest of ACTL-related directors and the breakdown in corporate relationships (including failure to provide information for accounts), it was just and equitable to wind up D4 and appoint liquidators under s241(4)(d).