20 Apr 2023
Because the Insolvency Register recorded the debtor as bankrupt following his own application accepted by the Official Assignee, the Court dismissed the judgment creditors' application to adjudicate him bankrupt as overtaken by that official adjudication.
26 Apr 2022
The shareholders' agreement process transferred the beneficial interest away from Surch such that the share register no longer reflected the equitable ownership; given the completed process, absence of engagement by Surch, and the Court's discretionary power under s 91 to align legal title with equitable ownership, the register must be rectified to record Thomson and Wadsworth jointly and remove Surch.
13 Apr 2022
The application for liquidation was dismissed because the respondent established a genuine and substantial dispute as to both the existence of the debt claimed and whether any debt was due and payable when the statutory demand issued; the evidence showed transfers likely represented share-purchase funds passed through Bo Si and the company's records were unreliable, making liquidation an abuse of process in these circumstances.
13 Apr 2022
Leave to intervene was granted because it was in the interests of justice: the intervener's issues overlap materially with the rectification proceedings and the proposed defence to the summary judgment is arguable; intervention would not significantly extend hearing time; intervention ensures a contradictor to the plaintiff; and the rectification claim appears to have merit.
18 Nov 2021
The court held on the objective construction of the parties' emails and the three executed documents that the arrangement was a sale: Wulff paid US$500,000 and thereby acquired legal and beneficial title to the Curtiss P-40 in March 2012 (subject only to DeMarco's contractual right under clause 2 of the P-40 side letter to a share of proceeds) and that DeMarco held 500 OSRC shares on trust for Wulff and Wulff is entitled to be entered in (or to rectification of) the company's share register; claims for compensation and other monetary relief were adjourned because of bankruptcy/liquidation and…
11 Nov 2021
The originating application for rectification was granted because probate established the applicant's authority as executor, the company shares are assets of the deceased's estate, no competing interest was identified, and it was appropriate to grant leave to commence by originating application and to dispense with service to effect rectification of the share register.
22 Dec 2020
The 2015 transfer of Renata's shares by Potikirua was unlawful and invalid; Renata remains the legal owner and the shares are held on constructive trust for her; the Court will declare the invalidity and entitle Renata to correction of the share register while allowing Potikirua to give effect to its equitable interest arising from the 1992/1993 agreement valued at $26,000.
16 Dec 2020
Judge found on balance of probabilities that signed 2004 share transfers were valid and resulted in plaintiffs (and their trust) holding half the shares in MBI; defendant failed to prove the alleged repayments/extinguishment of the $200,000 trust debt or a common mistake as to fair market value sufficient to void the transfers; director's conduct (denial of valid shareholding, misinformation to secure tax advantage, exclusion from records and management) was oppressive/unfairly prejudicial; accordingly court ordered rectification of share register and just and equitable winding up (liquidatio…
28 Feb 2019
The Court restored Credomax to the Register under s329 and ordered rectification of the share register under s91 because Material Resources had standing as a creditor and Veretennikov, as beneficial owner, was an 'aggrieved person' given the nominee legal owner had been removed and the sole director was unavailable; the Registrar consented and Veretennikov undertook to appoint New Zealand directors to regularise the company's affairs, justifying equitable rectification.
20 Sept 2018
The Court granted a limited interim injunction because the applicant demonstrated a reasonably arguable claim and the balance of convenience favored preserving the status quo pending service and a prompt inter partes hearing.