5 Mar 2013
THE NEW ZEALAND GUARDIAN TRUST COMPANY LIMITED V PARR HC AK CIV 2012-404-4212
- Citation
- openlaw-0bc24059_b836_4d7f_b52e_23d9e5aa9caa.pdf
- Court
- High Court
Relief under s37AH granted for the 15 identified allotments because they were made in good faith, promptly disclosed and remedied with no material prejudice; s37(1) operates at the level of individual allotments so only those 15 allotments were invalid; investments made with co-trustee consent under s29 of the Trustee Companies Act were not treated as public allotments requiring prospectus compliance; declaratory relief affecting non-parties was declined because those potentially affected were not joined and had not had an opportunity to be heard.