17 Dec 2013
D GRANT AND S KHOV v WESTCON GROUP NZ LIMITED 2013 [NZHC] 3419
- Citation
- openlaw-8de11fef_4d26_4678_bdf9_8b0b211dff37.pdf
- Court
- High Court
The rescheduling agreements reached with major creditors were binding and altered when debts fell due; payments made in accordance with those agreements were not insolvent transactions under s292 despite balance sheet deficits, and therefore the liquidators failed to prove inability to pay as debts became due and the application was dismissed.