26 Mar 2019
GONG v ZHANG [2019] NZHC 574
- Citation
- [2019] NZHC 574
- Court
- High Court
The transfer of the Property on 22 December 2014 was a disposition under s345(2) and was made by way of gift without reasonably equivalent value; having regard to the debtor's circumstances and authority in Regal Castings, the debtor must be taken to have intended or at least reasonably should have believed that the disposition would incur debts beyond his ability to pay, so s346(2) applies; procedural requirements of s347 were satisfied and s349 did not bar relief because the acquirers did not prove acquisition for valuable consideration in good faith without knowledge; accordingly s348 empo…