423 Transactions defrauding creditors
423 Transactions defrauding creditors

Part XVI Provisions Against Debt Avoidance (England and Wales only)

423  Transactions defrauding creditors

(1)     This section relates to transactions entered into at an undervalue; and a person enters into such a transaction with another person if—

(a)     he makes a gift to the other person or he otherwise enters into a transaction with the other on terms that provide for him to receive no consideration;

(b)     he enters into a transaction with the other in consideration of marriage [or the formation of a civil partnership]; or

(c)     he enters into a transaction with the other for a consideration the

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