30 Jul 2015
L-A T S v C B S [2015] NZHC 1768
- Citation
- [2015] NZHC 1768
- Court
- High Court
The Court accepted the professionally prepared partnership accounts showing the $500,000 advance was made to and forgiven by the partnership and refused to allow a late re-pleading that the advance was a personal debt absent timely evidence; accordingly the Waterview section was transferred to Mr S valued at $240,000, a $40,000 provision for unpaid partnership debts was retained for three months, and the partnership's Eastpak shares were ordered sold with proceeds held for equal distribution.