Significant implications for directors, particularly if creditors are well-funded or ‘determined’, lawyer says.
Liquidators David Ruscoe and Russell Moore estimate monthly costs of about $350,000.
Brewer has applied to have the case thrown out.
The person was last week found guilty of insider trading following a jury trial.
Law prohibits directors from accepting levels of risk 'permissible in other jurisdictions'.
Supreme Court reiterated Court of Appeal’s view there was ‘incoherence’ in the legislation.
Liquidators vow to pursue directors, insurer QBE, after landmark directors’ duties Supreme Court decision following more than eight years of litigation.
But their identity remains a secret due to ongoing name suppression.
Email from Synlait director John Penno to A2 Milk CEO David Bortolussi central to issues in dispute between two other companies, says judge.
The case is being brought by a minority shareholder against its former directors, which include NZX-listed Accordant Group boss Jason Cherrington.