4 Jun 2015
SPARTA13 CONTRACTORS LIMITED v MOEKE [2015] NZHC 1222
- Citation
- [2015] NZHC 1222
- Court
- High Court
Defendants, as past directors, misapplied company funds and are ordered under s301 to repay the money taken; compensation under s301 is limited to losses caused beyond mere debtor-creditor debts (notably interest/penalties and liquidation costs); s300 was not engaged because record-keeping failures were not the primary cause of insolvency, and double recovery must be avoided.