R A Price Securities Ltd v Henderson - [1989] 2 NZLR 257

Company law — Receivership — Receiver's right of indemnity by debenture holder — Receiver's duty to debenture holder — Solicitor negligently or in breach of professional duty failed to obtain for receiver an express indemnity from debenture holder — Receiver carried on business, sustained losses and sought indemnity from debenture holder and solicitor — Debenture holder counterclaimed for amount owing under debenture — Whether receiver's primary duty was to debenture holder or to company — Whether receiver was agent of debenture holder — Whether right of indemnity by debenture holder should be implied — Whether receiver was negligent in incurring losses — Whether, even if indemnity by debenture holder could be implied, receiver was protected from liabilities caused by his own negligence — Whether solicitor liable for contributory negligence in the absence of his directing the receiver to continue trading or consenting to any breach of duty — Whether debenture holder entitled to recover from receiver amount owing under debenture.