Mercato Holdings Ltd v Crown Corporation Ltd - [1989] 3 NZLR 704

Company law — Shares — Sale of shares — Provision of "financial assistance" by company in purchase of its shares — As term of contract for sale of shares in company A vendor procured loan from its holding company to repay shareholders' advances to company A the loan being secured by debenture — Purchaser subsequently alleged misrepresentation by vendor over sale and sought interim injunction to prevent holding company from exercising its powers under debenture — Whether vendor and holding company were separate entities — Whether loan by holding company amounted to financial assistance to company A in connection with purchase of its shares — Whether purchaser could set off claims for misrepresentation against amount owing under debenture to holding company — Whether interim injunction should be granted — Companies Act 1955, s 62.