Insolvent Transactions

Insolvent Transactions or Voidable Transactions as it is commonly referred to is when a creditor has received payments over and above what they would have normally received in a liquidation which creates a “preference” to that creditor. This allows a liquidator to claw the payments received back which are then applied to the liquidation according to Schedule 7 of the Companies Act 1993.

There are a number of defenses that can applied when defending a insolvent transaction claim from a liquidator. However, these only apply if the defenses are raised within the required time frame from when a insolvent transaction notice is served on a creditor.

If you need assistance to defend a insolvent transaction claim from a liquidator, contact us to discuss how we can help.

 

 

Other areas in Consulting – Insolvency: Directors Duty Breaches, Overdrawn Current Accounts

 

Khov Jones is a specialist insolvency and consulting firm that delivers practical solutions to clients that encounter often challenging and complex issues.

With over 20 years of commercial experience providing specialist advice we have the skills and expertise to provide robust advice to clients when it counts.

CONTACT

Auckland Office: 59 Apollo Drive, Albany, Auckland 0632

Waikato Office: Level 7, 711 Victoria Street, Hamilton 3204

Postal: PO Box 302261, North Harbour, Auckland 0751

Phone: 0800 275 554

Email: contact@khovjones.co.nz