13 Jun 2011
JH FISK AND CA SANSON V DL MAHONEY HC WN CIV-2010-485-2518
- Citation
- openlaw-328fc32d_2f05_431e_8855_4bb49236aada.pdf
- Court
- High Court
Payment of $177,399.76 made on 15 May 2009 was an insolvent transaction within the restricted period and enabled the director to receive a preference; the GSA dated 6 November 2009 (registered 23 November 2009) was a voidable charge within the restricted period, was not a substitution for a prior valid registered charge nor perfected as against the liquidator and creditors, and the defendants failed to rebut statutory presumptions or establish good faith/value; accordingly both the payment and the GSA are set aside.