United Homes (1988) Ltd v Workman - [2001] 3 NZLR 447

Bankruptcy and insolvency — Statutory demands — Demand by shareholder for payment of current account — Whether fairly arguable that funds to be left in by agreement — Proper approach to affidavit evidence — Whether dividends actually declared — Arguable defence to part of demand — Whether appropriate to allow demand to stand for balance — Companies Act 1993, s 290.

Company law — Dividends — Amounts reflected in current accounts — No declaration of solvency — Whether dividends actually declared — Companies Act 1993, s 52.