2 Dec 2014
BRUCE DONALD GEMMELL and RHYS JAMES CAIN v NITESH HIMMATSINGH [2014] NZHC 3044
- Citation
- [2014] NZHC 3044
- Court
- High Court
The respondent failed to object within the 20 working day period under s294, thereby being precluded from contesting the liquidators' notice; the evidence established the company was insolvent when the payments were made and the payments were directors' fees not salary, so the transactions are voidable and must be set aside with repayment, interest and costs.