Levin v Ikiua - [2010] 1 NZLR 400

Practice and procedure — Issue estoppel — Finding in liquidation proceeding as to amount of debt against company — Claim by liquidator of company against directors — Whether parties in substance the same — Whether issue estoppel.

Company law — Directors — Property held by company on trust — Disposal of property by directors — Whether disposal of property of company — Whether disposal of property to detriment of creditor — Whether liquidator of company subrogated to rights of trustees to indemnity against trust assets — Companies Act 1993, ss 298(2) and 301.

Trusts and trustees — Trading trusts — Nature of — Insolvency of — Observations.