MacMillan Builders Ltd v Morningside Industries Ltd - [1986] 2 NZLR 12

Company law — Winding up — Voidable preference — Company made payments by cheque to a creditor within one month of the commencement of its voluntary winding up — Whether money paid by cheque was "property", the recovery of which might be denied the liquidator under s 311A(7) — Whether creditor had altered its position after receipt of the payments — Whether it would be inequitable to order recovery — Companies Act 1955, ss 309 and 311A(7).