Manolete Partners PLC v Norman Freed & Ors
Payments by JRGL to KPL and AGL were made in breach of directors' duties, constituted transactions at an undervalue and preferences under the Insolvency Act 1986, and were received with knowledge by connected parties. Recovery is not limited to the shortfall in the administration; full repayment is ordered.
Source excerpt
- Directors' duties
- Transactions at an undervalue
- Preferences
- Knowing receipt
- Assignment of claims
- Remedy limitation