21 Apr 2015
RUSCOE & ANOR v MCKEOWN GROUP LIMITED [2015] NZHC 789
- Citation
- [2015] NZHC 789
- Court
- High Court
PQL was insolvent when payments were made; the remaining payments were not voidable under s292 because those payments were not made in respect of debts owed by PQL, but they were recoverable as transactions at undervalue under s297 because PQL received value only to the extent of fuel supplied ($165,044.51) but paid $196,021.39, leaving an undervalue of $30,976.88; McKeown failed to establish the subjective good faith defence in s296(3) because it knew GBT had been in liquidation and deliberately supported the debtor/guarantor to obtain an advantage, so it could not honestly believe there was…