10 Apr 2013
PETTERSON AS LIQUIDATOR OF HURLSTONE EARTHMOVING LIMITED V ALLIED CONCRETE LIMITED HC AK CIV-2012-404-006612
- Citation
- openlaw-989475e6_0a65_4cb4_b354_20580d65fca1.pdf
- Court
- High Court
Both respondents proved they acted in subjective good faith when receiving payments but failed to show that a reasonable person in their position would not have suspected that HEL was or would become insolvent and failed to establish that they gave value at the time the payments were received; accordingly the payments were voidable and the liquidator's applications to set them aside succeed.