7 Apr 2014
LEVIN & Anor v Z ENERGY LIMITED [2014] NZHC 688
- Citation
- [2014] NZHC 688
- Court
- High Court
The specified period commenced two years before the original application date (21 November 2009); the dealings between the parties constituted a continuing business relationship/running account under s292(4B) so all transactions are treated as a single transaction and netted; netting produced a neutral result (no net benefit to the respondent) so there was no insolvent transaction or voidable preference; peak indebtedness measurement was rejected in these circumstances; application dismissed.