31 May 2019
DOLD v MURPHY [2019] NZHC 1232
- Citation
- [2019] NZHC 1232
- Court
- High Court
The plaintiffs' claims failed: the Shareholders' Agreement did not impose contractual obligations preventing an individual shareholder from stipulating terms of sale or from seeking additional payment; the agreement's unanimity and no‑partnership clauses precluded finding a fiduciary duty that barred the demand; although the defendant may have owed fiduciary duties as sellers' representative, plaintiffs produced insufficient evidence that those duties were breached in obtaining the rollover allocation; and there was no economic duress because the pressure was not illegitimate and the plaintif…