6 May 2013
JEFFREY PHILIP MELTZER AND LLOYD JAMES HAYWARD AS LIQUIDATORS OF WINDOW HOLDINGS LIMITED (IN LIQUIDATION) V ALLIED CONCRETE LIMITED HC AK CIV 2012-404-003170
- Citation
- openlaw-5a450c15_3cbe_47b3_8b82_e86cc970c62a.pdf
- Court
- High Court
Allied established the first two limbs of the s 296(3) defence (it acted in good faith and had no reasonable grounds to suspect insolvency) but failed the third limb because it did not prove it gave value at the time the payment was received; under s 296(3)(c) value must be given at receipt (subject only to the separate alteration-of-position exception), so $63,649.50 of the payment is a voidable preference and must be repaid to the liquidators with interest and costs.