Marshall Futures Ltd v Marshall - [1992] 1 NZLR 316

Practice and procedure — Statement of claim — Applications to strike out causes of action — Whether arguable causes of action disclosed — Whether by amendment reasonable prospect of showing viable cause of action — Jurisdiction of Court to strike out — Principles applicable — High Court Rules, RR 186 and 477.

Trusts and trustees — Constructive trust — Payments to related companies out of moneys held for clients — Alleged knowing assistance by officers and former officers of company — Requisite knowledge to make officers and former officers constructive trustees through knowing assistance in breach of trust.

Company law — Liquidation — Proceedings commenced by liquidator of one creditor against officers and former officers — Officers alleged to be constructive trustees — Alleged knowing assistance through payments to related companies in breach of trust — Whether moneys recovered by plaintiff creditor to be held by that creditor for own benefit or for benefit of all companies — Whether officers kept proper accounting records — Liability if accounting records not kept — Whether notice of proceeding should be given to liquidator of another creditor — Companies Act 1955, ss 151, 319 and 320.