The WLR Daily case summaries
[2009] WLR (D) 214
COMPANY— Assets — Sale— Sale of company assets at undervalue or at behest of shareholder — Controlling company selling assets of its subsidiary at undervalue — Sale engineered by director of selling and buying companies believing it to be genuine transaction— Whether transaction being dressed-up unlawful distribution of company assets— Whether transaction ultra vires company — Companies Act 1985, s 263