McIntosh v Fisk - [2017] 1 NZLR 863

Bankruptcy and insolvency — Voidable preferences — Sums to be held in trust by asset manager — Money misappropriated — “Ponzi scheme” — Payments out made to unknowing investor — Whether payments made with intent to defeat creditors — Whether payment a “transaction” — Whether investor had defence to application to set payments aside — Whether value given for payment out to investor — Property Law Act 2007, ss 348, 349.