24 Apr 2015
TIMBERWORLD LIMITED V HENRY DAVID LEVIN AND VIVIENNE JUDITH MADSEN-RIES as liquidators of Northside Construction Limited (In Liquidation) CA842/2013 AND HENRY DAVID LEVIN AND VIVIENNE JUDITH MADSEN-RIES as liquidators of Tarsealing 2000 Limited (In Liquid
- Citation
- openlaw-49939176_20ee_493e_bbad_0e8e684ab9cb.pdf
- Court
- Court of Appeal
Section 292(4B) must be applied by netting all transactions forming part of the continuing business relationship that occur within the specified period; the peak indebtedness rule is not part of New Zealand law and a liquidator may not select a peak date within the period to exclude earlier transactions from the single transaction assessment; policy choices to adopt such a rule are for Parliament.