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Court of Appeal Wellington
CA 98/04
12 April; 13 June 2005
Anderson P, William Young and Chambers JJ
CA 98/04
12 April; 13 June 2005
Anderson P, William Young and Chambers JJ
Company law — Voidable preferences — Application to prevent payment by company being set aside by liquidators — Agreement by company and creditor to set off mutual debts — Whether payment made by company — Companies Act 1993, ss 292, 294 and 295.
Contract — Accord and satisfaction — Set-off — Purchase of client list for amount owed by seller of client list to purchaser — No money changing hands — Whether payment and set-off.