Friday 15 November 2013

UK: England and Wales: the scope of section 238 of the Insolvency Act 1986

The Court of Appeal gave judgment today in Hunt v Hosking [2013] EWCA Civ 1408. The case concerned a claim brought by a liquidator (Mr Hunt) of a company (Ovenden Colbert Printers Ltd) in which it was alleged that an individual (Mr Hosking) had received payments from the company's client account that were transactions at an undervalue under section 238 of the Insolvency Act 1986. Mr Hosking accepted that he had received payments but argued that they were not received as the result of any transaction entered into by the company. The trial judge agreed: see [2013] EWHC 311 (Ch). So did the Court of Appeal today.

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