The liquidators sought relief saying that the company had sold its principle capital asset at an undervalue to its parent company. Judges: Richards J Citations: [2010] EWHC 3349 (Ch), [2011] BPIR 876, [2011] Bus LR D93 Links: Bailii Statutes: Insolvency Act 1986 238 241 Jurisdiction: England and Wales Insolvency Updated: 21 October 2022; Ref: scu.427408
The defendants sought relief for transactions entered into at an undervalue. The bankrupt had entered into charges and an assignment of a loan account in their favour before his bankruptcy, and the trustee had obtained an order for them to be set aside as a fraud on his creditors. Held: To have such orders set … Continue reading Hill (As Trustee In Bankruptcy of Nurkowski) v Spread Trustee Company Ltd and Another: CA 12 May 2006
The court considered the relevance of a statutory limitation period in relation to applications to set aside transactions as being at an undervalue or as voidable preferences under section 238 to 241 of the 1986 Act. Applications to set aside transactions under the sections are generally actions on a specialty within the meaning of section … Continue reading Re Priory Garage (Walthamstow) Limited: ChD 2001
Administrators of the claimant company asserted that the company had held informal leases of two hangars owned by the defendant, and also complained of their transfer at an undervalue. The first defendant said that the occupations were under license only. Held: The occupation, having the characteristics of a tenancy, was in fact a tenancy. As … Continue reading Mann Aviation Group (Engineering) Ltd v Longmint Aviation Ltd and Another: ChD 19 Aug 2011
The degree to which an appellate court will be willing to substitute its own judgment for that of the tribunal will vary with the nature of the question. Hoffmann LJ said: ‘The concept of limited liability and the sophistication of our corporate law . .
