/Tag:Companies Act
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Madsen-Ries v Petera [2016] NZCA 103

The Court of Appeal in Madsen-Ries v Petera [2016] NZCA 103 held that creditors do not need to be considered when deciding whether a director/s’ remuneration was fair, at a time when the company was in financial peril. Section 161 of the Companies Act 1993 (Act) sets out the procedure for the authorisation of directors’ [...]

October 13th, 2016|Categories: Legal Developments|Tags: , |

Steel & Tube Holdings Limited v Lewis Holdings Limited [2016] NZCA 366

On 1 August 2016, the Court of Appeal released its decision in Steel & Tube Holdings Limited v Lewis Holdings Limited [2016] NZCA 366. The case offers guidance on pooling orders under section 271(1)(a) of the Companies Act 1993, which states that when a company is in liquidation, a court may order a “related company” [...]

October 13th, 2016|Categories: Legal Developments|Tags: , , |

Director Residency Requirements

As a means to regulate governance of New Zealand registered companies, the Companies Act 1993 (Act) was amended to provide that New Zealand incorporated companies must have at least one director who: lives in New Zealand; or lives in Australia and is also a director of an Australian company. The Act does not provide any [...]

October 13th, 2016|Categories: Legal Developments|Tags: , , |