Christensen v Peat Marwick - [1994] 3 NZLR 745

Tort — Negligence — Causation — Remoteness of loss — Losses suffered by company resulting in its failure — Whether shareholder can recover for diminished value of shares — Company guarantor forced to sell assets at undervalue to meet guarantee obligations — Whether guarantor can recover — Company employee lost job — Whether employee can recover.

Equity — Fiduciary relationship — Breach of fiduciary duty — Causation — Remoteness of loss — Losses suffered by company resulting in its failure — Whether shareholder can recover for diminished value of shares — Company guarantor forced to sell assets at undervalue to meet guarantee obligations — Whether guarantor can recover — Company employee loses job — Whether employee can recover.

Practice and procedure — Striking out proceedings — Abuse of process — Plaintiffs not entitled to recover against a company as shareholders/guarantors — Company previously settling claim — Plaintiffs personally making same claims — Whether plaintiffs' personal proceedings an abuse of process of Court.