An
extortionate credit transaction is a transaction by
which credit is provided on terms that are
exorbitant or grossly unfair compared with the risk
accepted by the creditor. Such a transaction may be
challenged by an administrator, a liquidator or a
trustee in bankruptcy.
(Please Note: The
definitions are not intended to be exhaustive
summaries of the Law. They are based on material
from The Insolvency Act 1986 , and other Acts
dealing with this subject.)
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