HHJ David Cooke in Dickinson v NAL Realisations

A 2005 transfer of property and a 2010 share buy-back by the company were invalid where carried out without proper authority and for no real consideration, and the share buy-back was a transaction defrauding creditors under section 423 of the Insolvency Act 1986 because the controlling director's purpose was to reduce the company's assets and prejudice claimant creditors.