Aveling Barford Ltd v Perion Ltd [1989] BCLC 626
Country:
United Kingdom
Reviewed By Oxbridge Law Team
Updated 2024-01-04 07:06:02 UTC
Company sold some assets to a shareholder at less than their market value.
Held
-
Transaction was a valid sale
I.e. not a sham
-
However as it was at an undervalue, was an unlawful distribution
I.e. contravened rule that company must not return capital to its shareholders
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