331. Liquidator’s right to recover in respect of certain sales to or by company Flashcards
1
Q
- Liquidator’s right to recover in respect of certain sales to or by company
A
General overview
[331.01] This section provides that where any property, business or undertaking was acquired or disposed by a company (X) for a cash consideration, within a period of two years before the commencement of the winding up of X, from a person who was at the relevant time a director of X or from a company (Y) which, at the relevant time, a person was a director of both X and Y, the liquidator may recover from the relevant person or company such amount equivalent to the difference in the value and the cash consideration.
