United Kingdom

Re Paramount Airways Ltd (No 2)

[1993] Ch 223

JurisdictionUnited Kingdom

Year1993

Statusunclear

Key Principle

Transactions at an undervalue under s.238 of the Insolvency Act 1986 can be set aside if the company entered into them at a time when it was unable to pay its debts and the transaction was at an undervalue; the court has a wide discretion as to the order to make.

Area of Law

insolvency

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