1 Nov 2012
DAVID STUART VANCE AND VIVIEN JUDITH MADSEN-RIES AS LIQUIDATORS OF MANUKAU ROAD 380 LIMITED (IN LIQUIDATION) V SUMNERS APPLIANCE LIMITED HC AK CIV-2012-488-000385
- Citation
- openlaw-6fe1e333_2699_46b2_b237_27935db45254.pdf
- Court
- High Court
The $30,500 payment made within the restricted period was an insolvent transaction under s 292; Sumners Appliance Limited failed to prove the s 296(3) good faith defence because it had actual knowledge of persistent rent arrears and reasonable grounds to suspect insolvency; therefore the court ordered the payment set aside under s 294(5).