8 Nov 2012
IAIN BRUCE SHEPHARD V ELLISON HOLDINGS LIMITED HC PMN CIV-2011-454-000634
- Citation
- openlaw-2e0ecb9e_7895_485c_b368_cdff95413944.pdf
- Court
- High Court
Court held payments of $80,080.02 to Fuel Express Limited were recoverable from FEX under s297 as transactions at undervalue; payments of $27,983.48 to Ellison Holdings Limited were not recoverable under s292 because a running account analysis showed fuel supplied exceeded payments (no net decrease in assets) and the diverted EFTPOS receipts to FEX were not payments to EHL; claims against Mr and Mrs Ellison personally for fuel, stock, plant and cash failed because the Companies Act voiding provisions apply to steps by the company (or its agent), not unilateral acts by creditors, though tort r…