Question: Key points include: 1. Related Persons: The transaction involves a related person, such as a relative of a director. 2. Specified Period: The transaction occurred

Key points include: 1. Related Persons: The transaction involves a related person, such as a relative of a director. 2. Specified Period: The transaction occurred within three years before the liquidation. 3. No Insolvency Requirement: The company does not need to have been insolvent at the time of the transaction. because these three points under 298 have been met we can say liquidator can recover write a conslusion for the scenario

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!