Timberworld Ltd v Levin - [2015] 3 NZLR 365

Company law — Liquidation — Voidable preferences — Statutory interpretation of s 292(4B) — Starting point for assessing quantum of preference — Whether peak indebtedness rule adopted from Australia — “Peak indebtedness rule” — “Specified period” — “All transactions” — Companies Act 1993, s 292.

Bankruptcy and insolvency — Rights of creditors — Voidable preferences — Whether certain trade creditors set apart from general pool — Starting point for assessing quantum of preference — Whether peak indebtedness rule adopted from Australia — “Peak indebtedness rule” — “Specified period” — “All transactions” — Companies Act 1993, ss 292 and 295.