Re Nimbus Trawling Co Ltd - [1986] 2 NZLR 308

Company law — Winding up — Fraudulent trading — "Any business of the company has been carried on with intent to defraud creditors" — Insolvent company sold principal asset to a company in which directors were shareholders and disposed of proceeds without providing for a creditor — Whether the sale was the carrying on of a business of the company — Whether the directors had a fraudulent purpose — Companies Act 1955, s 320(1) (as it stood prior to amendment in 1980).