Importers Service Corporation & Anor v Mario Aliotta & Ors
Transfers of shares by Aliotta Holdings to Mr Sleater and Mr Whitehead in 2024 were at an undervalue and intended to put assets beyond reach of claimants, engaging section 423 and requiring reversal; subsequent 2025 transfers were for sufficient consideration and not at undervalue, so section 423 did not apply.
Source excerpt
- Transactions at undervalue
- Constructive trusts
- Fraudulent transfers
- Shareholder disputes