Court upholds South Pacific Shipping ruling

The High Court has upheld an $8.4 million ruling against a company director for reckless trading.

The award against Klaus Lower, the German-based director of Christchurch company South Pacific Shipping, was the largest in local history for reckless trading. The High Court made its original judgment in February 2004.

In his appeal, Lower took issue with the finding that the directors should have shut down the business on April 18, 1994. The company was placed in liquidation in February 1998.