Keywords:
Introduction - includes bankruptcy, liquidation, avoidance provisions, receiverships, voluntary administrations and Part X arrangements Pre-administration transactions subject to challenge The rationale for avoidance provisions - includes voidable transactions, collectivism, equality of creditors, deterring dismemberment, prevention of commercial impropriety The avoidance provisions in bankruptcy The avoidance regime for pre-liquidation transactions The insolvency factor - includes bankruptcy, liquidations, tests of insolvency, meaning of insolvency, presumptions of insolvency Preferences - includes undue, unfair preferences Voidable settlements and undervalued transactions Uncommercial transactions Fraudulent dispositions and transfers to defeat creditors Unfair loans The avoidance of floating charges Defending the avoidance actions of liquidators - includes the protective provision, omission of "in the ordinary course of business" Avoidance proceedings The effects of successful avoidance proceedings Shortcomings and the need for reform