13 May 2015
FRIMLEY ESTATE LTD v FOG [2015] NZHC 1010
- Citation
- [2015] NZAR 1019
- Court
- High Court
Respondent Marianne Fog was a member of the public; Frimley committed a serious non-disclosure in issuing shares without a registered prospectus and omitted material matters (notably likely management/guarantee fees, paucity of paid-up capital, absence of audited accounts and realistic forecasts) which materially prejudiced the respondent; therefore it is not just and equitable to grant relief under s 37AH in respect of Ms Fog; relief for other subscribers adjourned for identification and further submissions.