running account

You continued to supply a customer goods on credit, notwithstanding that despite payments being made, the customer’s overall level of indebtedness remained basically the same.  The customer is then placed into liquidation.  You are owed thousands of dollars.  Then, to make matters worse, you receive a letter from a liquidator demanding under threat of legal action that you pay to him the money you received on the basis the payments received was an Unfair Preference. [Read more…]