1 Aug 2011
GRANT BRUCE REYNOLDS AS LIQUIDATOR OF CHAFFERS PROPERTIES LIMITED AND WARKWORTH GRANGE PROPERTY INVESTMENT LIMITED (BOTH IN LIQUIDATION) V GLAISTER ENNOR HC AK CIV 2011-404-001380
- Citation
- openlaw-0d0d8b17_54ce_4bcf_9225_169f22716890.pdf
- Court
- High Court
The court found the evidence established the payments were made by the Trustee pursuant to an irrevocable authority and there was no contemporaneous evidence that the Trustee advanced funds to the companies or that the transactions were loans or payments on behalf of the companies; therefore the transfers were not "transactions by the companies" under s292 and the application to set them aside was dismissed.