3 Oct 2013
THE OFFICIAL ASSIGNEE v R J WILLIAMSON [2013] NZHC 2579
- Citation
- [2013] NZHC 2579
- Court
- High Court
The transfer of $253,131.76 was a voidable insolvent gift (alternatively an insolvent transaction) made within the statutory period preceding bankruptcy; the respondent failed to prove an enforceable guarantee or that he acted in good faith and without reasonable grounds to suspect insolvency and did not give real value or irrevocably alter his position, therefore the Official Assignee is entitled to set aside the payment and recover the funds.