In Re Proudfoot a Bankrupt Ex Parte Ballins Breweries (New Zealand) Limited - [1960] NZLR 577

Bankruptcy and insolvency — Fraudulent preference — Sale of substantially all bankrupt's assets to creditor before adjudication — Creditor seeking to set off his debt against purchase money owing to him — Not a fraudulent conveyance — Bankruptcy Act 1908 s. 26 (b) — Property Law Act 1952 s. 60.