238 Transactions at an undervalue (England and Wales)
238 Transactions at an undervalue (England and Wales)

(1)     This section applies in the case of a company where—

[(a)     the company enters administration,] or

(b)     the company goes into liquidation;

and “the office-holder” means the administrator or the liquidator, as the case may be.

(2)     Where the company has at a relevant time (defined in section 240) entered into a transaction with any person at an undervalue, the office-holder may apply to the court for an order under this section.

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