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Fraudulent Conveyance, Void as Against Creditors

Posted on March 2, 2015 | Posted in Civil Litigation, Collections, Five Liners

Jonas v. McConnell 2014 Ont SCJ
Sole director allowed redemption of his preference shares in closely-held private corporation at nominal amount and then became bankrupt. He was held to have engaged in a fraudulent conveyance since consideration was deemed to be grossly inadequate. Redemption was declared void as against creditors.


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