In re Richardson (a Bankrupt) Official Assignee v Totalizator Agency Board - [1959] NZLR 481

Bankruptcy and insolvency — Property Passing — Bankrupt, before Adjudication but within Relation-back Period, making Investments with Totalizator Agency Board and receiving from Board Dividends and Refunds from Such Investments — Claim by Official Assignee for All Payments to or by the Board — Moneys staked and won in Betting Transactions conducted by Board as Agent for Totalizator not recoverable by Official Assignee — Bankruptcy Act 1908, ss. 55, 82 (b), 82A

Gaming and wagering — Totalizator Agency Board — Moneys invested with Board and Dividends and Refunds paid by it — Moneys staked and won in Betting Transactions conducted by Board as Agent for Totalizator — Moneys so invested and paid by Bankrupt irrecoverable by Official Assignee — Gaming Act 1908, ss. 69, 70.