COUNSEL & SOLICITOR:
Chang Mun Fong (Low Chi Cheng with her) (Lim Kian Leong & Co) for the appellant
Federal Court
Companies and Corporations – Winding up – Undue preference – Whether set-off pursuant to lease agreement was undue preference – Disposition within meaning of s 223 of Companies Act 1965 – Whether relevant date is date of set-off and not date of transaction – Companies Act 1965 ss 223 & 293 – Bankruptcy Act 1967 s 53(1)
Companies and Corporations – Winding up – Right to set off – Whether right of set-off would give lessor undue preference over other creditors contrary to s 293 of Companies Act 1965 and s 53(1) of the Bankruptcy Act 1967 – Whether provisions of agreement which give right of set-off should be struck down