11 Nov 2015
GALVANISING (HB) LTD & ORS v FISK AND ANOR AS LIQUIDATORS OF EAST QUIP LIMITED (IN LIQUIDATION) [2015] NZCA 529
- Citation
- (2015) 14 TCLR 204
- Court
- Court of Appeal
The Court held s 292(4B) did not apply because the impugned payments were transactions between EQL and the other group entities, not transactions with the Eastons as creditors within the meaning of s 292(4B); funding by the Eastons constituted separate transactions (if at all) and the payments were not made to induce further credit but to preserve group business, so the payments were voidable insolvent transactions recoverable by the liquidators.