New Zealand Case Law: Decisions & Judgments | LexChat

New Zealand Case Law

Reimbursement vs creditor repayment
  • 4 Sept 2019

    NORRIE v RAVIKULAN [2019] NZHC 2158

    Citation
    [2019] NZHC 2158
    Court
    High Court

    All 19 payments were transactions by the company. The liquidator failed to prove insolvency at the dates of the three earlier payments (1 July 2011, 29 August 2011, 7 June 2012). For the payments in the restricted period the company was presumed insolvent but the evidence established that the impugned payments were, on the balance of probabilities and having regard to commercial practice and bank records, contemporaneous reimbursements/advances (largely to recharge the principal's Mastercard or petty expense reimbursements) rather than repayments of creditor loans that advantaged the defendan…