Originally Posted by
MadAmster
... might this be something for you accounting buffs to mull over?
Having just noticed this is in the rules regarding Administrators duties, I was curious if it was applicable.
"The liquidator or administrator can also apply to court seeking an order to restore any disposition of company property which contravenes the relevant provisions of the IA 1986, being IA 1986, s 127 (only in a compulsory liquidation) and IA 1986, ss 238, 239, 240 and 423—these are generally referred to as antecedent transactions. Therefore, a liquidator or administrator can make an application to court to unwind transactions entered into before the company was wound-up or entered into administration. Whether the particular transaction will be unwound will depend on its own circumstances".
Could Quantuma repossess Pride Park and leave Mel with the £20M charge on it?