Transotway Limited v Iain Bruce Shephard and Christine Margaret Dunphy - SC 39/2005

Civil appeal - whether the Court of Appeal arred in concluding that the discharge of a debt by way of set-off through provision of a client list to the applicant was "a payment of money" in terms of s 292(1)(e) of the Companies Act 1993 - whether s 310 of the Companies Act which provides for set-off of mutual debts in liquidation was applicable - whether a substance based approach, which considers the transaction in the context of the agreement as a whole, was applied. CA 98/04 13 June 2005