25 Jul 2017
SHAW V OWENS AND VANCE AS THE LIQUIDATORS OF ALUMINIUM PLUS WELLINGTON LIMITED [2017] NZCA 315
- Citation
- [2017] NZCA 315
- Court
- Court of Appeal
The Shaws' December 2013 decision to release the Trust's funding obligation inevitably rendered Aluminium Plus insolvent and breached the s137 duty of care; compensation under s301 must reflect the company's actual loss attributable to that breach and only a proportionate share of liquidation costs causally linked to the breach, resulting in substituted compensation of $106,505.03.