They also prohibit the granting of fraudulent preferences, which purport to give certain creditors priority over other creditors in bankruptcy. Many provinces have statutes prohibiting fraudulent conveyances. Canada Ĭanadian provinces have jurisdiction over property and civil rights, which includes conveyances of property. The relation-back day is defined as either the day upon which the application for the company's winding-up was filed, or the date of the commencement of liquidation. Under Australian law, if a transaction is entered into by a company which subsequently goes into liquidation, and the transaction was entered into by the company for the purpose of defeating, delaying or interfering with the rights of creditors during the 10 years prior to the relation back day, the courts may set it aside.
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