Section 111Part 17 — Benefit of Transactions Affecting the Debtor and the Debtor’s Property
Fraudulent preferences
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Every conveyance or transfer of property, or charge thereon, and every payment, obligation and judicial proceeding, made, incurred, taken or suffered by any person unable to pay that person’s debts as they become due from that person’s own moneys, in favour of any creditor or any person in trust for any creditor, with a view of giving such creditor a preference over the other creditors, shall, if a provisional order takes effect against the person making, taking, paying or suffering the same within six months after the date of making, taking, paying or suffering the same, be deemed fraudulent and void as against the Trustee.
Every conveyance or transfer of property, real or personal, made by any person unable to pay that person’s debts to any other person in trust for any creditor shall be absolutely void unless the same were made and executed with the assent of seventy-five per cent in number and value of the creditors of such person.