5 Apr 2023
SIVAMANI KRISHNAMURTHI v ALOK PATEL [2023] NZHC 736
- Citation
- [2023] NZHC 736
- Court
- High Court
Beneficial ownership alone, without more, does not confer present standing under s 91 or s 174; the plaintiff has not acquired the shares by operation of law at the time of filing and therefore lacks standing to pursue the second cause of action against the company; the company is a proper party if the plaintiff acquires standing, so the appropriate remedy is to stay (not strike out) the second cause pending resolution of the first cause of action which may vest the shares in the plaintiff.