Māori Trustee v Ihaia - Omapere Taraire E & Rangihamama X3A (Aggregated) (2014) 88 Taitokerau MB 9 (88 TTK 9) [pdf, 269 KB]
...cancellation of the shares is a more effective and efficient route as opposed to the revesting of the shares in the other owners. The large number of owners in this case would make revesting an unappetising and laborious prospect with the risk of human error in calculating and revesting those interests in proportion to the current shareholding. The cancellation of the shares will have the same effect but by far more efficient, accurate, and practical means. [46] Section 18(1)(b)...