11 Dec 2015
TSB BANK LTD v DOLLIMORE [2015] NZHC 3175
- Citation
- [2015] NZHC 3175
- Court
- High Court
Although the disposition hindered TSB and therefore prejudiced it under s 345(1)(a), the disposition was made to prefer secured creditors (whose interests were registered) over an unsecured creditor; that routine preference falls within the s 345(1)(b) exception and the purchaser/trustee proved acquisition for valuable consideration and in good faith without knowledge of the prejudicial disposition (s 349), so the court declined to set aside the disposition or order compensation.