Dictionary

  • Intention to delay or defeat creditors

    (in the context of bankruptcy)
    Under the Bankruptcy Act 1966 (Cth) section 121, a transfer will be void if “…the transferor’s main purpose in making the transfer was: (i) to prevent the transferred property from becoming divisible among the tranferor’s creditors; or (ii) to hinder or delay the process of making property available for division among the creditors.”

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