8 Sept 2017
MCCULLAGH v ROBT JONES HOLDINGS LIMITED [2017] NZHC 2182
- Citation
- [2017] NZHC 2182
- Court
- High Court
The Court held on the balance of probabilities that: (1) payments by Columbus Jan–May 2010 were a redirection of licence fees owed to NCI under a legitimate Nov09 licence and were made with NCI's knowledge/consent; (2) payments by MSH2 Sep–Nov 2010 were effectively loans to NCI (MSH2 a wholly owned subsidiary acting for NCI) and made with NCI's knowledge; (3) NCI was unable to pay its due debts at the relevant times; (4) the payments therefore constituted insolvent transactions by NCI within s292 and were voidable; accordingly the payments totalling $751,941.52 were set aside and RJH ordered…