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Laws enabling the avoidance of transactions are an important and complex part of insolvency legislation. This book is the first to be solely devoted to this topic, enabling these powers to be examined in greater depth than has previously been possible. The book analyses these provisions, and related rules of common law and equity, in the context of both corporate and personal insolvency law.
A wide range of practical issues are considered, including the link between transaction avoidance and director disqualification proceedings; the funding of the avoidance action; and evidence gathering. The extent to which other remedies, such as an action for misfeasance, can be pursued in addition to, or as an alternative, to proceedings under the transaction avoidance provisions is examined in detail;In the area of bankruptcy law particular attention is paid to pensions, the family home and divorce proceedings. The complicated issue of cross border transaction avoidance is considered in detail.
The book also contains some important new arguments relating to the issue of entitlements to any sums recovered as a result of an avoidance action, setting out the existing law, as established in Re Yagerphone but arguing that this case does not sit easily with the provisions of the Insolvency Act 1986.