Liquidation Rules Uk
Friday, September 3rd, 2010Liquidation Rules Uk
When can a UK court reverse the sell of shares of a LTD CO?
If own 100% of shares in a UK Ltd Co. The fair share price is at £10.00 a share. Can i sell 51% of the shares for £51.00? (and not £510.00)
If the company went into admin/bankrupt/liquidation etc later on.
Can a court reverse the shares that i sold ?
I know a court can reverse the selling of assets at ‘undervalued transactions’.
But what about the selling of shares ? (bearing in mind the rules in place about ‘intention’?) Maybe.
Many thanks.
(no spam website addresses please, i’ll report)
You can trade shares for whatever you want – not wuite sure where you are getting your ‘fair valuation’ from.
But note – your behaviour as a director (if you are one) is something Companies House would be interested in if you are heading towards bankruptcy – as would IR if you are intending to defraud by undervaluing an asset. It sounds like you need the advice of an accountant if your not going to land yourself in hot water who can look at the relevant facts eg Articles of Association and other matters..