12 Sept 2014
BELGRAVE FINANCE LTD v SCHOFIELD [2014] NZHC 2223
- Citation
- [2014] NZHC 2223
- Court
- High Court
On the evidence the Court found Schofield secretly controlled Belgrave and dishonestly assisted its directors to effect undisclosed related-party lending in breach of the debenture trust; Buckley, as director and Schofield's agent, breached fiduciary duties; both are jointly liable to compensate Belgrave for unrecovered advances of $8,615,107.74 (rounded to $8,615,108) with simple interest, leave reserved to seek compound interest if profits above simple interest are proved.