14 Nov 2013
G REYNOLDS as liquidator of EBODE CONSTRUCTION LTD (In Liq) v EUROVISION LTD [2013] NZHC 3015
- Citation
- [2013] NZHC 3015
- Court
- High Court
All three payments were insolvent transactions under s 292. Eurovision proved it acted in good faith and that a reasonable person in its position would not have suspected insolvency for all payments. Eurovision proved alteration of position in respect of the first two payments (forgoing repossession, traveling to Auckland and completing assembly/installation) but did not prove contemporaneous alteration of position in respect of the third payment. Therefore recovery was permitted only in respect of the third payment net of agreed credit; net repayment of $26,695.25 ordered plus interest from…