corporations law

January 3, 2007 10:42 PM

What is the difference between enjoining a transaction and setting aside a transaction? This is in the context of corporations law and conflicting interest transactions.
posted by KimikoPi to law & government (2 comments total)

A transaction can be enjoined only before it is consummated, but it could be set aside afterward.
posted by Mr. President Dr. Steve Elvis America at 1:51 AM on January 4, 2007

Mr. America has it.

You seek an injunction to prevent the sale before the fact; to get it, you need to prove whatever the three things are that you need to establish to get a preliminary injunction (probability of success on the merits, irreparable harm, and... something else, I think). You set aside a transaction after the fact, and that's where you're more likely to see a fuller treatment of conflict of interest issues.
posted by ibmcginty at 8:39 AM on January 4, 2007