23 Dec 2015
KIWIMILK LIMITED v KIWIMILK DISTRIBUTION LIMITED [2015] NZHC 2604
- Citation
- [2015] NZHC 2604
- Court
- High Court
The Court declined to order payment of NZ$500,000 because the Shareholder Agreement failed to provide for share transfer and an order requiring issuance/transfer of shares raised s 40 Companies Act issues making enforcement inappropriate absent statutory compliance or ICA relief; KMDL's counterclaim was dismissed because KMDL did not prove breach of the distributorship warranties or that any breach caused loss to KMDL (loss would have accrued to Sinokiwi, a third party purchaser); under the LTA Agreement the stakeholder funds and accrued interest were payable to KML because KML could not be r…