Company – Administration. The Companies Court held that a company in administration was entitled to restitution to some degree in respect of payments made out of the company to the defendants. The court dismissed an application by the joint administrators of the company, under s 238 of the Insolvency Act 1986, which alleged that the payments to the defendants amounted to transactions at an undervalue, where there was no evidence that the company had 'dealt' with the defendants or had entered into a transaction with them, within the meaning of s 238(4) of the Act.