3 Aug 2023
THE OFFICIAL ASSIGNEE v ELITE TELECOMMS LTD [2023] NZHC 2048
- Citation
- [2023] NZHC 2048
- Court
- High Court
The transfer of 46 Weka Street was a disposition made with intent to prejudice a creditor (the IRD); the vendor was insolvent upon making the disposition; Elite did not act in good faith, a reasonable person in Elite's position would have suspected the vendor could not pay her debts, and Elite did not give value in the reasonable belief the transfer was valid and would not be cancelled — accordingly the transaction is cancelled and the property must be retransferred to the Assignee under s207(1)(a).