A High Court decision has cleared the way for a liquidator to sue the directors and auditors of the main vehicle for Christchurch bankrupt David Henderson‘s property exploits.
Accountancy firm PricewaterhouseCoopers (PwC) – the auditors of Property Ventures Ltd (PVL), which went into liquidation in July, 2010 owing about $70m – tried to stop the action by liquidator Robert Walker and other plaintiffs. It argued the proceedings, begun in 2012, were an abuse of process and against public policy.
In a decision released this week, Justice Brown rejected the arguments and cleared the way for the proceedings to continue…….Robert Walker, as liquidator of PVL and other companies connected with Henderson, is spearheading the action…. The judge awarded costs against PwC.
For full story by Martin Van Beynen published 29/7/15 go to:
Here is a PDF of the Decision: Walker and Scutter Ors v Forbes QC Judgment (2)