{"issue_text":"Whether appellant was personally liable under s 318 Companies Act for company's debt","issue_type":"law","dispositive":"yes","related_facts":"Appellant's resignation before BA due, denial of BA knowledge"}
{"issue_text":"Whether 30% interest rate was legal","issue_type":"law","dispositive":"no","related_facts":"Interest claimed on judgment amount"}
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background
Facts of the Case
Background
The respondent company obtained a default judgment against Rodstreet Trading for USD$117,335.91 under a Bankers Acceptance. When execution failed, respondent sued appellant as former director under s 318 Companies Act for personal liability, alleging reckless trading. High Court found appellant liable. Appellant appealed.
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