In ACN 097 011 188 Pty Ltd & Ors v Alphapharm Pty Ltd [2024] QDC 74, the plaintiffs, liquidators of ACN 097 011 188 Pty Ltd (the Company), sought to recover $620,892.24 from Alphapharm Pty Ltd, claiming it was an unfair preference paid while the Company was insolvent. Alphapharm defended on the grounds that the Company was not insolvent at the time of payment. The Court, presided by Porter KC DCJ, ruled that the Company was insolvent on the payment date and ordered Alphapharm to repay the amount with interest and cover the plaintiffs' legal costs.
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