26 Oct 2018
ADTRACTION MARKETING LTD (IN LIQ) v EHRENFELD [2018] NZHC 2777
- Citation
- [2018] NZHC 2777
- Court
- High Court
The defendant authorised the payments; only limited administrative and financial services were provided and no licensing services were supplied; Reeltime failed to inject agreed capital; by December 2013 Adtraction could not meet key trade creditors (notably Yellow) and a reasonable director would not have authorised further payments for non-existent licensing fees or continued payments that preferred related companies over creditors; accordingly defendant breached s 131 and, alternatively, s 137, and is liable to repay NZD181,016.36.