235 Transactions at an undervalue and transactions defrauding creditorsThe court has power to set aside certain transactions entered into by a company at an undervalue where that company subsequently goes into liquidation or administration under Section 238 of the Insolvency Act 1986. In addition, the court may set aside certain transactions which have been entered into for the purpose of putting the company’s assets beyond the reach of its creditors or other claimants1. It is generally considered that these powers do not apply where there has been a company reorganisation under Section 110 of the Act. This
The court has power to set aside certain transactions entered into by a company at an undervalue where that company subsequently goes into liquidation or administration under Section 238 of the Insolvency Act 1986. In addition, the court may set aside certain transactions which have been entered into for the purpose of putting the company’s assets beyond the reach of its creditors or other claimants1. It is generally considered that these powers do not apply where there has been a company reorganisation under Section 110 of the Act. This
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