18 Jul 2019
VANCE v VEY GROUP LIMITED [2019] NZHC 1676
- Citation
- [2019] NZHC 1676
- Court
- High Court
The Court found the Trustees had standing once vested as registered shareholders; the sole director's conduct in misleading the Trustees about share registration, excluding them from voting on a proposed sale, failing to provide timely financial records and material disclosure, and purporting to authorise a major financing without proper shareholder approval cumulatively amounted to conduct that was oppressive, unfairly discriminatory and unfairly prejudicial. The Court granted just and equitable relief short of immediate liquidation: appointment of an independent accountant to prepare accoun…