Walker v Allen - [2002] 1 NZLR 278

Company law — Directors — Director’s duties — Failure to keep proper accounting records — Reckless trading — Duty to act in good faith and in best interests of company — Failure to exercise reasonable care — Company collapsed as a result of assessment of nearly $6m in excise duty — Whether directors personally liable for breach of directorial duties — Whether liable for breaches of duties created by antecedent provisions now repealed — Companies Act 1993, ss 131, 135, 137, 194, 300 and 301.