Krukziener’s $250k payment in Hanover settlement insolvent transaction, Appeal Court rules

Wed, 05 Feb 2014

By Paul McBeth Feb. 5 (BusinessDesk) - The Court of Appeal has ruled a $250,000 payment made by Andrew Krukziener as part of a 2009 deal with Hanover Finance was an insolvent transaction designed to sidestep the implications if the former property developer was bankrupted, the Court of Appeal has found. Justices Lyn Stevens, Forrest Miller and Robert Dobson dismissed an appeal by HF Residual Obligations, formerly Hanover Finance, seeking to overturn a High Court decision deeming the payment to be an insolvent transaction, meaning it could be...

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