Lower v Traveller

[2005] NZSC 79

IN THE SUPREME COURT OF NEW ZEALAND

SC 51/2005
[2005] NZSC 79

BETWEENKLAUS LÖWER

Appellant

ANDGARY TRAVELLER AND JOHN ANTHONY WALLER

Respondents

Hearing:2 December 2005

Court:Elias CJ and Blanchard J

Counsel:D J White QC and M H L Morrison for Appellant

M D O'Brien and B M Cash for Respondents

Judgment:2 December 2005 

JUDGMENT OF THE COURT

A.Leave to appeal is granted.

B.The approved ground is whether the High Court was entitled under

(a)   s 320 of the Companies Act 1955; or

(b)  s 301 of the Companies Act 1993 (for default or breach of duty arising under statute or common law);

to make in this proceeding an order declaring the appellant responsible for a portion, namely $8.4 million, of the debts and liabilities of South Pacific Shipping Co Ltd on the ground of his being a party to the carrying on its business in a reckless manner prior to 30 June 1994 (when s 320 was repealed).

Solicitors:
Lowndes Jordan, Auckland for Appellant
Bell Gully, Auckland for Respondents