set aside any transactions at an undervalue

phrase

  • Business (Corporate) Law/Company Law
  • Debtor-Creditor
  • Bankruptcy Law

Definitions of set aside any transactions at an undervalue

  • to cancel or revoke transactions for which the company received significantly less consideration than it should have done

    Under section 423 of the Insolvency Act, the court can set aside any transactions at an undervalue which were intended to put assets beyond the reach of creditors.

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