Top court rules against developer in director duties case

Top court rules against developer in director duties case
Victoria Young
In a key ruling on directors’ duties, the Supreme Court has found a property developer breached the Companies Act after he traded while insolvent, because he didn’t account for all of his creditors.The liquidators for Debut Homes sued director Leonard Cooper saying he failed in his duties finishing construction of several houses when the company was in financial strife.The decision will be studied by professional advisers because it considers how reckless trading provisions in the Companies Act should be interpreted, and aligns with...

More Law & Regulation

Foodstuffs NI warned by ComCom over supplier treatment
Retail

Foodstuffs NI warned by ComCom over supplier treatment

It obstructed a supplier request, says Grocery Commissioner.

Vector faces fresh complaint on unfair contract terms
Property

Vector faces fresh complaint on unfair contract terms

Vector faces more scrutiny over contract terms after Commerce Commission advice.

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs
Property

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs

A developer’s Fair Trading win against Vector feels like a loss.

Garth Bray 01 Jul 2025