23 : Transaction
at an Undervalue :
A transaction (or gift) where
the consideration is either non existent or
considerably less than the item/amount given.
For example if a company that was insolvent
and sold a car worth £20,000 to someone
for £100 this would be considered (on
the face of things) to be a transaction at undervalue.
A Liquidator can apply to the Court to have
the transaction reversed or corrected so that
creditors do not suffer.
Click on the word or phrase to
find a straightforward explanation rather than
the exact legal definition.
If you would like to find out
how much we could save you, please call us on
0800 7838 137. If you would like us to
call you please click
here and complete the form.
