20 Sept 2006
NATIONAL TRADE MANUALS LIMITED (IN LIQUIDATION) V JONATHON MICHAEL WATSON HC AK CIV 2005-404-007335
- Citation
- openlaw-aa99d1e0_bcbe_413c_a70b_ef8e50c684c8.pdf
- Court
- High Court
Documents and bank records established defendant borrowed from BNZ and on-lent to the company; the 31 March 2005 resolution did not comply with s161 and s107 did not validate it (not in writing and subject to solvency requirements), the company was insolvent immediately after the resolution, and monies applied for the defendant's benefit are recoverable; defendant has no reasonably arguable defence and summary judgment is appropriate for $42,424.10 and $204,741.88 plus interest and costs.