19 Aug 2015
BURNETT v PATTERSON [2015] NZHC 1974
- Citation
- [2015] NZHC 1974
- Court
- High Court
The Court found that removal of the plaintiff as a director and from management in a closely held company amounted to unfairly prejudicial conduct under s174, making a buy‑out just and equitable; fixed valuation date at 18 March 2014, applied capitalisation of future maintainable earnings using accounting years 2011–2014, set a multiplier of 3.8 reflecting company size, concentration and risk, and determined total company fair value at NZD 725,000 yielding the plaintiff's 40% share value of NZD 290,000; ordered first and second defendants to purchase plaintiff's shares on specified terms.