Vivien Judith Madsen-Ries and David Stuart Vance as Liquidators of Petranz Limited (in liquidation) and Petranz Limited (in liquidation) v Darrell Warren Karaneihana and Diana Joy Petera - SC 46/2016

Civil Appeal – Companies Act 1993 – Whether the Court of Appeal erred in its application of s 161– Whether the Court of Appeal erred in taking into consideration that if the liquidators were successful that surplus funds would be returned to the directors and shareholders pursuant to Morgenstern v Jeffreys [2014] NZSC 176 – Whether the Court of Appeal erred in holding that ss 131–138 are codification of directors’ duties. [2016] NZCA 103   CA198/2015