6 Jun 2019
SHEARING SERVICES KAMUPENE LTD (IN LIQUIDATION) (FORMERLY SHEARING SERVICES LTD AND TE WHATA SHEARING LTD) v TARAHAU FARMING LTD [2019] NZHC 1280
- Citation
- [2019] NZHC 1280
- Court
- High Court
Absent proof that the advances were gifts and with no presumption of advancement, the transfers constituted loans repayable to the liquidators; alternatively, the dispositions were voidable for inadequate consideration under s 298 Companies Act 1993. Accordingly the plaintiffs are entitled to repayment, interest and costs.