21 Feb 2023
SINGH v BUTTAR & KIWI JOINT LTD [2023] NZHC 243
- Citation
- [2023] NZHC 243
- Court
- High Court
Leave under s165 was granted because the applicant produced reliable and detailed forensic accounting evidence of multiple unauthorised and undocumented withdrawals and transactions by the director which were not satisfactorily explained by the respondent, the evidence established an arguable claim and the sums involved justified litigation on the company's behalf; the applicant is a proper person to bring the derivative action and the availability of alternative shareholder remedies did not preclude s165 relief.