Scenario:

• David is one of the students at a company with a 3 month summer job, from December 2018 -February 2019 and was paid $50,000
• The company pays David and the other students wages far in excess of market rates
• The company had then suffered financially in 2019, where sales had gone down by 90%, in March 2020 they had failed to pay its GST and other tax liabilities, and some staff had lost their jobs
• The Company's bank, CBNZ, had threatened to seize the company's stock, in terms of a general security agreement.
• In June 2020, on the advice of the board, the company;s shareholders had voted unanimously to put the company in liquidation.

Question:

• Is the Liquidator able to recover any amount from David? Why /Why not? You may use New Zealand legislation to support your answer.