17 Sept 2012
GROVES v TSSN LIMITED (IN LIQUIDATION) HC WN CIV-2011-485-2643
- Citation
- openlaw-0f94c7ab_79bf_4aaf_8ed0_62c0c2608534.pdf
- Court
- High Court
The court refused permission for the applicant to be a director because he remained in breach of s386A for an extended period after becoming aware of the prohibition, failed to act with required urgency (s386E window not used) and that conduct showed serious adverse reflection on his fitness to be a director; there was insufficient evidence to establish on the balance of probabilities that the sale achieved fair market value, but because the applicant's management role (distinct from governance) was important to the business and his governance skills were limited, the court granted permission…