Tag: Insolvency Act 1986
Court of Appeal confirms test to be applied when looking to set aside transactions defrauding creditors
When an individual or a company enters into a transaction at an undervalue the Insolvency Act 1986 has provisions (sections 238 and 339) which allow an officeholder, whether they be a trustee in bankruptcy of individual or a liquidator to the company, to overturn those transactions. In relation to the company the transaction must be... Read more »
A landlord’s guide to dealing with an insolvent tenant – Part one: Where a tenant is a company
Where a tenant is a company and it fails to pay the rent due under a lease a landlord may: Exercise commercial rent arrears recovery (CRAR) for the rent against certain goods of the tenant at the premises. Sue for the rent by court action. Forfeit the lease, either by court action or by peaceable... Read more »