Transaction Avoidance in Insolvencies

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.

Table of Contents:
Preface; PART I: INTRODUCTION; 1. Introduction; 2. The Rationale of the Transaction Avoidance Provisions of the Insolvency Act 1986; PART II: AVOIDANCE LAWS APPLICABLE IN INSOLVENCY; 3. Post Petition Dispositions; 4. Transactions at an Undervalue; 5. Preferences; 6. Extortionate Credit Transactions; 7. Disclaimer; 8. Unenforceability of Liens on Books etc; 9. Avoidance of General Assignments on Book Debts (Bankruptct); 10. Transactions Defrauding Creditors; 11. Transactions Which Conflict With the Pari Passu Principle; PART III: ISSUES PECULIAR TO BANKRUPTCY; 12. The Family Home; 13. Concurrent Bankruptcy and Divorce; 14. Pensions (Bankruptcy Only); 15. Criminal Offences Arising From Fraud and Deception (Personal Insolvency); PART IV: ISSUES PECULIAR TO CORPORATE INSOLVENCY; 16. Floating Charge Avoidance: Non Registration; 17. Avoidance of Floating Charges; 18. Avoidance Powers Under the Companies Act 1985; 19. Misfeasance (Corporate Insolvency); 20. Criminal Offences (Companies); PART V: . CROSS BORDER TRANSACTION AVOIDANCE; 21. Scotland; 22. Cross Border Transaction Avoidance; PART VI: PRACTICAL ISSUES; 23. Evidence Gathering; 24. Transaction Avoidance and Company Director Disqualification Proceedings; 25. Limitation Periods; 26. Funding; 27. Other Laws Enabling Transaction Avoidance; 28. Destination of Proceeds (Corporate Insolvency)

About the Author :
Rebecca Parry is a Lecturer in Law at the University of Leicester. The Consultant Editor, Hamish Anderson, is a Partner with the City firm of Norton Rose solicitors, and a leading practitioner specializing in insolvency law.

Review :
As a commentary on English law, Ms Parry's volume is thorough, thoughtful and an indispensable asset to counsel practising debtor-creditor law ... There is no doubt that Ms Parry's book will find itself on the shelf of nearly every debtor-creditor lawyer in England. It will be the first place one will turn. Journal of International Banking Law & Regulation