21 Mar 2011
LIBRA DEVELOPMENTS LIMITED V CLARK HC DUN CIV-2002-412-000039
- Citation
- openlaw-273e86ef_e0ab_47e9_933d_fa985be6a3b0.pdf
- Court
- High Court
Court held that defendant owed equitable/fiduciary duties in winding up and breached them by excluding plaintiffs and abandoning partnership entitlements; as a result defendant must account for realised and unrealised profits and for a proved loss of chance (Cargill House) quantified at NZD 250,000; account taking to be conducted project-by-project with specified deemed completion/wind-up dates and directions on evidence standards for disputed invoices, valuation dates (Cargill 30 June 2010), treatment of shareholders' advances (6% interest to be imputed), and specific adjustments (Law Street…