12 Jul 2019
TYRION HOLDINGS LIMITED v INFRASTRUCTURE NZ LIMITED [2019] NZCA 308
- Citation
- [2019] NZCA 308
- Court
- Court of Appeal
The Court held the assets transfer caused unfair prejudice but affirmed the High Court's acceptance of the respondents' valuation evidence (independent forensic accountant Martin) that INZ's value in July 2008 was low (NZD 88,850) and Tyrion's share value NZD 44,425; the Court agreed it would not be just and equitable to award compensation given factors including Blomfield's misconduct and Tyrion's knowledge of INZ's precarious finances; further evidence was refused; the indemnity costs order was excessive and was replaced with a 50% uplift on scale 2B for steps after 7 February 2018; appeal…