Matai Industries Ltd v Jensen - [1989] 1 NZLR 525

Company law — Receivership — Alleged breach of duty by receiver - fiduciary relationship — Limitation of proceedings — Receiver of company sold company's assets in 1976 - Receivership terminated in 1981 - In 1984 company sued receiver alleging negligence over sales — Whether the receiver of a company stands in a fiduciary relationship to the company — Whether receiver has a duty of disclosure to the company — Whether the directors of a company in receivership retain power to sue a receiver — Whether a cause of action against a receiver accrues at the time of the alleged wrongful acts or at the end of the receivership — Whether a company in receivership is "under a disability" (thereby enabling it to extend the limitation period) - Whether proceeding should be struck out for want of prosecution — Limitation Act 1950, ss 4, 24, and 28.

Equity — Estoppel — Issue estoppel — Whether the company should be regarded as the privy of the shareholders — Whether plea of issue estoppel should succeed. — Shareholders of company had sued the Government for breach of contract (see [1983] NZLR 308) - Subsequently the company sued the Government in tort on substantially the same issue