New Zealand Case Law: Decisions & Judgments

Topic

Set aside payment

Legal area

Court

18 Aug 2015

GRANT AND KHOV AS LIQUIDATORS OF SPRAYMAN & AUCKLAND DOOR FINISHERS LTD (IN LIQUIDATION) v MCKENZIE [2015] NZHC 1958

Citation

[2015] NZHC 1958
Court

High Court

Defendant satisfied s 296(3): he acted in subjective good faith, a reasonable person in his position would not have suspected that Sprayman was or would become insolvent given the information he had, and he gave value by virtue of services rendered as an employee (and/or reasonably altered his position); accordingly the liquidators' application to set aside the $36,000 payments failed.
3 Oct 2013

THE OFFICIAL ASSIGNEE v R J WILLIAMSON [2013] NZHC 2579

Citation

[2013] NZHC 2579
Court

High Court

The transfer of $253,131.76 was a voidable insolvent gift (alternatively an insolvent transaction) made within the statutory period preceding bankruptcy; the respondent failed to prove an enforceable guarantee or that he acted in good faith and without reasonable grounds to suspect insolvency and did not give real value or irrevocably alter his position, therefore the Official Assignee is entitled to set aside the payment and recover the funds.
22 Aug 2013

BLANCHETT & MCCLOY v TE KOPUA INVESTMENTS LTD [2013] NZHC 2130

Citation

[2013] NZHC 2130
Court

High Court

The refund of $48,000 constituted "paying money" under s 292(3)(e) and, because Central Oil was unable to pay its due debts at the time, the transaction was an insolvent transaction under s 292(2) that enabled Te Kopua to obtain more than it would have in liquidation; accordingly the payment was set aside under s 294(5) and Te Kopua was ordered to repay the amount with statutory interest and costs.

New Zealand Case Law

GRANT AND KHOV AS LIQUIDATORS OF SPRAYMAN & AUCKLAND DOOR FINISHERS LTD (IN LIQUIDATION) v MCKENZIE [2015] NZHC 1958

THE OFFICIAL ASSIGNEE v R J WILLIAMSON [2013] NZHC 2579

BLANCHETT & MCCLOY v TE KOPUA INVESTMENTS LTD [2013] NZHC 2130