13 Mar 2019
GRAHAM & JACKSON v TYLER & ANOR [2019] NZHC 430
- Citation
- [2019] NZHC 430
- Court
- High Court
Payments made by Arena to the first and second defendants were dispositions by an insolvent debtor made with intent to hinder, delay or defeat creditors (inferred from Ponzi scheme operations); accordingly the payments are set aside under PLA ss 347 and 348 and defendants must repay $317,500 (first defendant) and $259,000 (second defendant) with interest from the liquidation date; Companies Act s 292 need not be decided.