What Is the Significance of a Court Deeming That a Payment

question 31

Multiple Choice

What is the significance of a court deeming that a payment made by an insolvent debtor is a fraudulent preference and,as such,is void?

• A) Assets will be returned to the estate by way of transaction reversal.
• B) All payments for services given must be reversed and repaid.
• C) All payments to trade creditors must be reversed and repaid.
• D) Assets transferred to relatives prior to insolvency must be reversed.

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