30 Jun 2016
CGES LIMITED (IN LIQUIDATION AND RECEIVERSHIP) v KELLY [2016] NZHC 1465
- Citation
- [2016] NZHC 1465
- Court
- High Court
Directors knowingly allowed the company to trade while insolvent, made personal withdrawals and failed to meet tax obligations, thereby breaching duties under ss 131,135,136 and 137; as a result they are jointly and severally liable to repay the overdrawn shareholder current accounts ($262,073) and to contribute to the company's losses under s 301 ($301,256); interest and costs follow.