Directors beware: Supreme Court judgment on section 423 of the Insolvency Act 1986 captures companies - Debenhams Ottaway Solicitors

Directors beware: Supreme Court judgment on section 423 of the Insolvency Act 1986 captures companies - Debenhams Ottaway Solicitors

This article originally featured in the Corporate Rescue and Insolvency journal published by LexisNexis. Can a director defeat their creditors by using a company they control to transfer company assets for less than they are worth, thereby reducing the value of their shares? The answer, until now, has been uncertain. However, the recent Supreme Court decision in El-Husseiny v Invest Bank (UKSC 2023/0080) has provided important clarification on t…