A High Court decision has cleared the way for a legal fight between CallPlus founders Annette Presley and Malcolm Dick to go ahead.
A decision by Justice Helen Winkelmann in Auckland yesterday cleared the way for a hearing on behalf of CallPlus against Mr Dick for breach of fiduciary duty, The New Zealand Herald reported today.
The action involves new venture 2Talk, formed by Mr Dick and CallPlus chief executive Martin Wylie late last year without Ms Presley's knowledge.
Ms Presley claims Mr Dick and Mr Wylie breached their duties as directors by using CallPlus resources and employees to establish a business in competition with CallPlus.
Mr Dick contends CallPlus assets weren't used by 2Talk and CallPlus was set to benefit from an option agreement which could see 2Talk ownership transfer to CallPlus in 18 months.
In her judgment, Justice Winkelmann said a prudent business person would pursue action and leave should be granted.
Since legal proceedings began in July, the shareholding of 2Talk has been restructured and the legal action now involves only Mr Dick, the Herald said.
|
Breaking Legal News |
Headline News |
Law Center |
Legal Business |
Court News |
Law Firm News |
Legal Interviews Political and Legal | Practice Focuses | Legal Spotlight | Events & Seminars | Legal Marketing | Court Watch | Immigration Press Releases | International | Politics | Justice Stories | Attorney Web Design | Celebrity Courthouse | Law Firm Marketing |
|
The content contained on the site has been prepared by TLN Journal as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
