3 Oct 2014
AQUAHEAT NZ LTD v HI SEAT LTD (In Liq and R’ship) & ORS [2014] NZHC 2430
- Citation
- [2014] NZHC 2430
- Court
- High Court
On the facts the receiver (Grenfell) did not occupy the locus of effective decision-making for the vendor companies and did not give directions or instructions to the sole director (De Bernardo); decision-making and corporate governance remained with the vendor director, advisors and management, so Grenfell was not a shadow or deemed director and owed no directors' duties to the companies at the relevant time; accordingly the plaintiff's claim based on s136/s301 failed and was dismissed.