New Zealand Factors Ltd v Farmers Trading Co Ltd - [1992] 3 NZLR 703

Company law — Winding up — Application for stay of proceedings — Debtor company solvent — Principles governing exercise of discretion to stay — Whether application unfair — Whether prima facie case of bona fide dispute — Relevance of solvency to exercise of discretion — Whether defendant entitled to independent set-off — Whether defendant entitled to equitable set-off — Whether plaintiff a creditor — Whether application an abuse of process.

Equity — Estoppel — Factoring agreement — Whether equitable assignment of debt — Whether legal assignment of debt — Whether notice of assignment given — Effect of failure to give notice of assignment on right to set-off.

Equity — Assignment — Factoring agreement — Whether equitable assignment of debt — Whether legal assignment of debt — Whether notice of assignment given — Property Law Act 1952, s 130.