Former Holland Corp director liable for $1 million, court finds

Peter Holland

The High Court at Auckland has ruled former Holland Corporate director Peter Holland must pay his former company in excess of $1 million.

Justice Ailsa Duffy found former the ANZ executive – who gave key evidence in the Feltex District Court trial – breached his fiduciary duties when he profited at his former firm’s expense.

Last week the court heard how it was not until a director’s wife began helping update Mr Holland’s LinkedIn profile that the other directors became suspicious of his activities outside the business.

An investigation revealed Mr Holland used the company name and stationery to get clients and then collected money using his own bank accounts, the court heard.

Justice Duffy found in favour for Holland Corporation in its claim relating to specific invoices of $A607,205.

She also ruled Holland Corporation could receive equitable compensation for $450,000 for doing work for another firm Gleneagles Securities.

Mr Holland or representatives for the consultant did not defend the charge. The court heard from a third party trustee’s lawyer that he did not have the funds to travel to New Zealand.

Mr Holland appointed that trustee, who now has control over his assets.

vyoung@nbr.co.nz


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7312 -0.0015 -0.20%
AUD 0.9194 -0.0017 -0.18%
EUR 0.6133 -0.0007 -0.11%
GBP 0.5414 -0.0020 -0.37%
HKD 5.7099 -0.0186 -0.32%
JPY 82.1650 0.0650 0.08%

Commods

Commodity Price Change Time
Gold Index 1293.3 6.130 2017-09-22T00:
Oil Brent 56.4 0.420 2017-09-22T00:
Oil Nymex 50.7 0.110 2017-09-22T00:
Silver Index 16.9 -0.034 2017-09-22T00:

Indices

Symbol Open High Last %
NZX 50 7795.4 7814.8 7795.4 0.25%
NASDAQ 6401.4 6429.5 6422.7 0.07%
DAX 12569.7 12646.6 12600.0 -0.06%
DJI 22334.1 22364.3 22359.2 -0.04%
FTSE 7263.9 7320.3 7263.9 0.64%
HKSE 27949.8 27960.9 28110.3 -0.82%
NI225 20413.6 20417.1 20347.5 -0.25%
ASX 5655.4 5688.2 5655.4 0.47%