5 Jul 2013
TOTARA PROPERTIES WHANGAREI LTD V COCHRANE & ORS CA844/2012 [2013] NZCA 283 [5 July 2013]
- Citation
- [2013] NZCA 283
- Court
- Court of Appeal
The company's constitution, read as a whole, requires equal sharing of authorised distributions between the classes of shares except for voting rights; no provision or construction permits a dividend to be paid to the single class A shareholder alone; no term permitting unequal dividends should be implied; therefore the High Court's interpretation was correct and the appeal is dismissed; costs awarded against the second appellant personally.