Q&As

Where party A advances a transaction at an undervalue (TUV) claim against party B, can party B set-off sums owed to party B to party A as against the TUV claim?

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Published on LexisPSL on 16/01/2018

The following Restructuring & Insolvency Q&A provides comprehensive and up to date legal information covering:

  • Where party A advances a transaction at an undervalue (TUV) claim against party B, can party B set-off sums owed to party B to party A as against the TUV claim?
  • Set off and the requirement for mutuality of debts
  • Transactions at an undervalue
  • Transactions at an undervalue and set off

Set off and the requirement for mutuality of debts

For information on set off, see Practice Notes:

  1. What is set-off and when is it available?

  2. Insolvency set-off—the position under the Insolvency (England and Wales) Rules 2016

  3. Types of set-off

As detailed in these Practice Notes, with the exception of contractual set off, as a general rule, all forms of set off require mutuality of debts between the two parties involved. The requirement of mutuality requires further analysis in insolvency than apparent beneficial ownership. Set offs denied for w

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