Hellard and another v Graiseley Investments Ltd and others

Insolvency – Liquidation. The application by the liquidators failed properly to plead or to define their 'transaction' for the purposes of s 238 of the Insolvency Act 1986 and had failed adequately, or at all, to address in their evidence the value alleged to flow between the alleged parties in relation to the 'transaction' as properly defined. The Chancery Division, accordingly, held that their transaction at an undervalue claim did not get off the ground.

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