1 Sept 2015
WILDING & ANR v TE MANIA LIVESTOCK LTD & ORS [2015] NZHC 2105
- Citation
- [2015] NZHC 2105
- Court
- High Court
The application for an interim injunction to remove directors was declined because (1) the pleaded claims do not provide a jurisdictional basis to order interim removal; s 164 permits restraint of future unlawful conduct but does not authorise removal of directors; duties under ss 131 and 137 are owed to the company not to an individual shareholder so the relief sought is not supported in the present pleading; and (2) even if a serious issue existed, the balance of convenience and overall justice strongly disfavour interim removal given existing shareholder mechanisms, defendants' vested inte…