21 Aug 2014
IGAI COMPANY LTD (IN CREDITORS’VOLUNTARY LIQUIDATION) v. GET NICE (UNION) FINANCE COMPANY LTD
- Citation
- IGAI COMPANY LTD (IN CREDITORS’VOLUNTARY LIQUIDATION) v. GET NICE (UNION) FINANCE COMPANY LTD
- Court
- Court of First Instance
- Case number
- HCMP2739/2013
The originating summons was dismissed because the court found the Respondent was entitled to present the post-dated cheque and, although the cheques were created within the six‑month period and constituted security, the liquidators failed to prove on the balance of probabilities that the transfer into the Company account on 8 July was influenced by the requisite subjective desire to prefer the Respondent; therefore no unfair preference was established and it was unnecessary to determine insolvency at earlier dates.