Superbuild Pty Ltd supplied building hardware to Horizon Property Pty Ltd. Horizon had two directors, Kel and Kath Jones. Horizon had an eight-year trading relationship with Superbuild and was a regular customer of Superbuild (it was an unsecured creditor). Horizon paid Superbuild with post-dated cheques, a common practice in the building industry. Sometimes the cheques bounced, but no bounced cheque bounced a second time. After three invoices totalling $20,000 had remain unpaid at 60 days as at 1 February, Superbuild required Horizon to pay instalments to reduce the balance. Horizon paid all of these instalments, the final instalment being made on 10 March.

On 13 July, Horizon was wound up by the Court on the grounds of insolvency. The winding up application was filed on 19 April by a creditor unrelated to Superbuild. It is not disputed that Horizon was insolvent at all times during the relation back period. Penny, the court appointed liquidator, has reported to the ASIC that unsecured creditors will receive 10c in the dollar on winding up ($10,000 cash, unsecured creditors $100,000).

Answer the following short answer questions using Law and Application:

1. Are the payments an unfair preference?
2. Is this transaction a voidable transaction and what remedy would Penny seek from the Court?
3. Does Superbuild have any defences to prevent this transaction being set aside?