10 Mar 2020
COMMISSIONER OF INLAND REVENUE v CLOONEY RESTAURANT LIMITED [2020] NZHC 451
- Citation
- [2020] NZHC 451
- Court
- High Court
The 25 September 2014 transfer was a disposition intended to prejudice creditors and must be remedied by compensation; Clooney Restaurant Ltd must pay reasonable compensation equal to the vendor companies' preferential tax claim ($383,958.40) and Mr Stewart breached his director duties and must contribute that sum to the Commissioner; Mr Stewart is personally liable under s 386C for the successor company's tax liabilities evidenced at $201,256.53 as at 27 February 2020; the s 136 claim is adjourned pending higher authority.