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Aveling Barford Ltd v Perion Ltd

[1989] BCLC 626

Case summary last updated at 23/01/2020 16:28 by the Oxbridge Notes in-house law team.

Judgement for the case Aveling Barford Ltd v Perion Ltd

Company sold some assets to a shareholder at less than their market value. Held:
 
·       Transaction was a valid sale
Ø  i.e. not a sham
·       However as it was at an undervalue, was an unlawful distribution
Ø  i.e. contravened rule that company must not return capital to its shareholders

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