1 Dec 2009
FINNIGAN AND WHITTFIELD V HE, HE AND HE HC AK CIV-2009-404-000753
- Citation
- openlaw-014e61df_fd36_4cd1_ae81_eff07bb8ebf2.pdf
- Court
- High Court
The court held that the mutual claims between the company and the respondents satisfied s 310(1) mutuality criteria, that contingent rent/damages obligations arose from the lease prior to the specified period and were therefore not excluded, and that the conversion damages did not constitute a 'transaction' within s 310(2); therefore bankruptcy set-off operated automatically and extinguished the set-off portion, making s 292 inapplicable and precluding relief to the applicants.