30 Jun 2020
BIRCHFIELD v BIRCHFIELD HOLDINGS LIMITED [2020] NZHC 1516
- Citation
- [2020] NZHC 1516
- Court
- High Court
The court held there was no realistic prospect that the intrusive management remedies sought (reinstatement, imposition of a business plan and appointment of a majority of independent directors) would be ordered where relationships between shareholders/directors had irretrievably broken down; accordingly the appropriate remedy, if unfair prejudice is established, is a buy-out and defendants who make a reasonable offer consistent with O'Neill are entitled to summary judgment subject to the defendants putting full terms of the offer and valuation process on file.