21 Dec 2016
MADSEN-RIES v GREENHILL [2016] NZHC 3188
- Citation
- [2016] NZHC 3188
- Court
- High Court
The 18 October 2012 journal entry was a prejudicial disposition made without reasonably equivalent value and not a reconciling implementation of an earlier agreement; Greenhill breached his statutory duties (s131, s135, s136) by promoting his own interest, reckless trading and wrongful withdrawals; Kiwibank's failure to elect under s305 led to deemed surrender of its security and Greand could not acquire greater rights; the Trust is also deemed to have surrendered its charge; Greenhill was ordered to pay restitutionary and compensatory sums totalling NZD 568,889.58 plus prescribed interest an…