First City Corporation Ltd v Downsview Nominees Ltd - [1990] 3 NZLR 265

Company law — Debentures — Registration — Debenture holder registered debenture within prescribed period and Registrar issued certificate of registration — Registrar failed to enter particulars in register of charges — Whether certificate of registration was conclusive — Whether debenture was void — Companies Act 1955, ss 102, 103 and 105.

Company law — Managers — Exclusion from management — Receiver, who had been found to be negligent and reckless during his receivership, was disqualified for five years from being a director or manager or any company — Whether receiver was an officer of the company — Whether order for disqualification should have been made — Companies Act 1955, s 189(1)(c). — Appeal from [1989] 3 NZLR 710

Tort — Negligence — Duty of care — Receiver — Receiver, appointed by first debenture holder, was negligent and reckless in his receivership resulting in loss to second debenture holder — Second debenture holder had subsequently assigned its debenture to a subsidiary — Whether receiver owed duty of care to second debenture holder and to successive holders of second debenture — Whether first debenture holder, as alter ego of receiver, owed duty of care to second debenture holder — Whether receiver was liable for loss to second debenture holder — Appeal from [1989] 3 NZLR 710 .