Federal Court of Australia
JUDGMENT No. KF 2E,
CATCHWORDS CORPORATIONS '- winding up - alleged preference under bankruptcy legislation (Bankruptcy Act 1966 (Cth) s122) - "running account" - services provided by government instrumentality, - whether periodic payments for services were not preferences because inseparable part of a wider transaction -' whether principle of "running accounts" applicable - whether United States "net result" doctrine
applicable - whether the capacity of the creditor to impose a lien rendered the payments non-preferential
INTEREST - order for payment of interest on preferential payments - date from which calculated
Statutes:
Corporations Law (Cth), s565, s588FA
Bankruptcy Act 1966 (Cth), s122
Bankruptcy Act 1924 (Cth), s95
Civil Aviation Act 1988 (Cth), s8, s9, s12, s13, sS20AA, s27, $28, Ss32B, s66, Ss68-76, S98
Civil Aviation Regulations (Cth), reg7A, reg8, regi0, reg13, reg97, reg98, reg100, regl67(b), reg 169A
Insolvent Act 1841, 5 Vic. No. 17 (NSW), s8
Insolvency Statute 1865 28 Vict. No. 273 (VIC), s31 Bankruptcy Act 1869 c.71 (U.K.), s92
Bankruptcy Act 1914 c.59 (U.K.), s44
Insolvency Act 1986 c.45 (U.K.), s340(4)
The Bankruptcy Act of 1800 (US), 2 Stat.19
The Bankruptcy Act of 1841 (US), 5 Stat.440, s2
The Bankruptcy Act of 1867 (US), 14 Stat.517, s35 The Bankruptcy Act of 1898 (US), ¢c.541, 30 Stat.544, s57g, s60
The Bankruptcy Reform Act of 1978 (US), s547
Statutes Relating to Interest: Federal Court of Australia Act 1976 (Cth), s51A
Supreme Court Act 1970 (NSW), s94
Cases:
Calzaturificio Zenith Pty Ltd (In Liq) v New South Wales Leather & Trading Company Pty Ltd [1970] VR 605, 610, 614, 620-1, considered
Re J.F. Aylmer (Manildra) Pty Ltd (1968) 12 FLR 337, 345, 354-5, 352, considered
Spedley Securities (In Lig) v Western United Ltd (In Li (1992) 27 NSWLR 111, 114-5, considered
Re Discovery Books Pty Ltd (1972) 20 FLR 470, 474-5 478-9, considered
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