BL - Corp. & Dir. - TDC

Question 1

Transaction Defrauding Creditors
What is the disadvantage of using Transactions at Undervalue rather than Transactions to defraud creditors?

Answer 1

TUV has a time limit TDC does not

Question 2

Transaction Defrauding Creditors
What is the disadvantage of using Transactions to defraud creditors rather than Transactions at Undervalue?

Answer 2

TDC requires intent, TUV does not

Question 3

Transaction Defrauding Creditors
What are the requirements of a Transaction Defrauding Creditors claim for companies?

Answer 3

• transaction as undervalue 🎁
• the intention or purpose of the transaction was to put assets beyond the reach of creditors of the comapny or otherwise prejudice their interests (includes future creditors who were not know at the time)

⚙️👻👺

Question 4

Transaction Defrauding Creditors
Who can bring TDC:

Answer 4

• Liquidator or administrator
• supervisor CVA
• a victim of the transaction in question

Question 5

Transaction Defrauding Creditors
What is the time limit for a TDC?

Answer 5

There is no limit

Question 6

Transaction Defrauding Creditors
What are the remedies of a TDC?

Answer 6

The court may make such orders as it sees fit to restore the position to what it would have been but for the transaction