
Contents
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A. Introduction A. Introduction
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B. Limitation Act 1980 B. Limitation Act 1980
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C. Application of the Limitation Act 1980 to Transaction Avoidance Proceedings C. Application of the Limitation Act 1980 to Transaction Avoidance Proceedings
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Transactions at an undervalue Transactions at an undervalue
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Preferences Preferences
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Transactions defrauding creditors Transactions defrauding creditors
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Post-petition disposition Post-petition disposition
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Other types of transaction avoidance Other types of transaction avoidance
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D. Cases Involving Fraud D. Cases Involving Fraud
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E. Significance of Delay Outside of Limitation E. Significance of Delay Outside of Limitation
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F. Delay in Prosecution of Proceedings F. Delay in Prosecution of Proceedings
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Cite
Abstract
The legislation does not deal expressly with the issue of what limitation periods are applicable to the transaction avoidance provisions. This is an issue which has, however, been addressed in case law. The basic position will be set out in this chapter. In summary, there is no general rule that actions by office holders are not subject to the rules of limitation and the issue of what time limits are applicable would appear to turn on the form of relief that the office holder is seeking. The position will also be affected if the action can be said to be based on the fraud of the defendant. The office holder would be well advised, however, to ensure that, as far as possible, the action is not delayed as this may lead to a striking-out action under the Civil Procedure Rules. Reference should be made to specialist works on limitation periods for further details of this area of law.
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