Voluntary liquidation – Calculation of creditor’s preferential and non-preferential claims – Set-off moneys owed by creditor to company – Whether set-off moneys to be set off against preferential or non-preferential claim in first instance – Companies Act 1985, sec. 611–614; Bankruptcy Act 1914, sec. 31.
This was a test case brought by the Crown by originating summons to determine the calculation of its claim as a preferential creditor who was also a debtor of a company in voluntary liquidation.
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