A transaction could be deemed to be at an undervalue and caught by the section even though it made no difference to the overall assets and even though only one rather than the generality of creditors was prejudiced by the transaction. Here, by creating a tenancy in favour of a limited company whose shares they … Continue reading National Westminster Bank Plc v Jones and Others: ChD 7 Jul 2000
The respondent farmers charged the farm by way of an agricultural floating charge to the claimants. On coming into difficulties, they set up a limited company and granted a tenancy in its favour and transferred assets to it. The bank obtained declarations that the charges remained valid and that the new tenancies and assignments should … Continue reading National Westminster Bank plc v Jones and Others: CA 24 Oct 2001
The court was asked: ‘a) Does the doctrine of marshalling permit the marshalling of securities held over property that does not belong to the common debtor? In particular, is a creditor of a guarantor entitled to marshal (or be subrogated to) securities which have been granted to another creditor of the guarantor by the primary … Continue reading Highbury Pension Fund Management Company and Another v Zirfin Investments Ltd and Others: ChD 14 Feb 2013
