26 Jul 1988
RE RIGHT TIME CONSTRUCTION CO LTD
- Citation
- RE RIGHT TIME CONSTRUCTION CO LTD
- Court
- Court of First Instance
- Case number
- HCCW97/1987
Payments made to the respondent after presentation of the winding-up petition were dispositions of company property within s.182 and are void; the court refused to validate the payments because the respondent knew of the companys insolvency, the payments reduced assets available to unsecured creditors, were not in the ordinary course of business and there was no justification for preferring the respondent.