23 Dec 2016
5 STAR VIDEO LIMITED (IN LIQUIDATION) v VIVIAN JUDITH FATUPAITO AND ANDREW HAWKES [2016] NZHC 3200
- Citation
- [2016] NZHC 3200
- Court
- High Court
On the evidence (including unchallenged bank statements and absence of adequate accounting records) the defendant made personal drawings of $30,626.35 repayable to the company; he breached s 194 by failing to keep adequate accounting records which contributed to insolvency and impeded liquidation; accordingly the Court declared him personally liable under s 300 and ordered payment of the drawings plus contribution to the liquidation and liquidators' costs.