17 Dec 2012
GRANT V INDEPENDENT LIVESTOCK 2010 LIMITED HC HAM CIV-2011-419-001233
- Citation
- openlaw-8214751d_820a_47df_a39b_f32c2031d67a.pdf
- Court
- High Court
No pooling order under s 271(1)(b) because IL Agents and IL 2010 were not related companies under s 2(3)(d) (temporal separation and transfer rather than concurrent indistinguishable operation); second cause under phoenix provisions failed for lack of pooling; however Schuler breached his duties as director (s 131) by deliberately misrepresenting reasons for non-payment, misapplying funds and misleading creditors, and under s 301(1)(b)(i) was ordered to repay the full Mudge shortfall of NZD 70,601 with interest, while claim under s 135 (reckless trading) was not made out.