Downsview Nominees Ltd v First City Corporation Ltd - [1993] 1 NZLR 513

Tort — Negligence — Duty of care — Receiver — Receiver appointed by first debenture holder negligent and reckless in his receivership resulting in loss to second debenture holder — Second debenture holder subsequently assigned its debenture to a subsidiary — Whether the receiver owed a duty of care to second debenture holder and the successive holders of second debenture — Whether the first debenture holder, as alter ego of receiver, owed a duty of care to the second debenture holder — Whether the receiver was liable for loss to second debenture holder — Appeal from [1990] 3 NZLR 265.

Company law — Managers — Exclusion from management — Negligent and reckless receiver disqualified for five years from being a director or manager of any company — Whether receiver was an officer of the company — Whether order for disqualification should have been made — Appeal from [1990] 3 NZLR 265 - Companies Act 1955, s 189(1)(c).

Equity — Fiduciary relationship — Receiver — Whether receiver owed duties to subsequent debenture holders — What was the nature of those duties — Appeal from [1990] 3 NZLR 265.