A Liquidator Can Reverse a Transaction Entered into by a Company

question 13

Multiple Choice

A liquidator can reverse a transaction entered into by a company if it is a voidable transaction.However, there will be no obligation on the part of the payee under such a transaction to repay money to the liquidator if the transaction was:

• A)An insolvent and uncommercial transactions.
• B)Made in good faith for valuable consideration when there was no reason to believe the company was insolvent.
• C)An insolvent transaction with a related entity.
• D)An unfair loan.

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