3 Jun 2021
ARNERICH v DHC ASSETS LTD [2021] NZCA 225
- Citation
- [2021] NZCA 225
- Court
- Court of Appeal
Director breached s 131 by causing the trustee company to distribute trust proceeds to beneficiaries while failing to have regard to Vaco's interests as trustee and contingent creditor claims; where breach caused loss to creditor, court may order compensation under s 301 and must determine the company's liability to the creditor to assess appropriate relief; interest award to be adjusted to exclude contractual penalty interest on components not attracting contractual interest.