14 Apr 2015
SUPER SPEED LTD (IN LIQUIDATION) v. BANK OF BARODA
- Citation
- SUPER SPEED LTD (IN LIQUIDATION) v. BANK OF BARODA
- Court
- Court of Appeal
- Case number
- CACV184/2014
The Court held the post-petition advances made by the Bank to overdrawn company accounts were loans of the bank's assets and not dispositions of the companies' property within section 182; additionally, on the facts the mortgaged properties were charged to full value immediately before each advance so there was no reduction in the companies' equity and no voidable disposition. The appeals were dismissed.