Syntax Holdings (Auckland) Ltd (in liquidation) v Bishop involved a claim by the liquidators of Syntax Holdings (Auckland) Ltd that Mr and Mrs Bishop (as directors) had breached certain duties to the company (and its creditors) under the Companies Act 1993. The High Court agreed with the liquidators' claims, and found that the Bishops had either allowed the business of the company to be carried on in a manner likely to create a substantial risk of serious loss to the company's creditors, or had agreed to the company incurring obligations without believing on reasonable grounds that the company would be able to perform the obligations when required to do so.
One issue was the date from which the Bishops were culpable for breaches of their directors' duties. Heath J disagreed with the liquidators on this issue and held that the Bishops were entitled to a grace period of about six months to allow time for them to carry out a "sober assessment" of their business prospects.
See Court decision here.