3 Feb 2015
Bay Kiwifruit Contractors Limited (in liquidation) v Ladher [2015] NZHC 63
- Citation
- [2015] NZHC 63
- Court
- High Court
On the unchallenged liquidators' evidence the shareholders' current account was overdrawn and recoverable as a debt of $115,978; directors paid themselves remuneration while the company was insolvent in breach of s161 and are personally liable for specified salary amounts; directors breached ss131,135 and 136 by continuing to trade while insolvent and incurring tax obligations, justifying repayment and compensation orders under s301.