4 Jun 2008
ANZANI INVESTMENTS LIMITED V THE OFFICIAL ASSIGNEE CA CA252/07
- Citation
- openlaw-508be2e7_358a_44fa_849b_caa6b5c0fbe2.pdf
- Court
- Court of Appeal
The payment of $70,000 was made by ASL from joint venture proceeds while ASL was insolvent and within the restricted period, it was not in the ordinary course of business given the winding down of the venture and it conferred on AIL more than it would have received in liquidation, therefore the payment was voidable under s292 and recovery is appropriate; the appeal is dismissed.