Under the old legislation there existed the concept of fraudulent preferences. However, in line with the changes in the UK in 1986, the word “fraudulent” has been dropped and changed to “unfair”. The purpose behind this was to get rid of the connotation of “fraud”, but at the same time to enhance the powers of [...]

The concept of the “transaction at an undervalue” is also one which has been imported from the UK. Its purpose is to give the trustee the power to apply to the Court for a transaction to be set aside where, although there may have been some consideration granted, it was inadequate insofar as it was [...]

It is often the case that the bankrupt is the owner or joint owner, with his wife, of a property. More often than not the property is the main residence of the bankrupt and his family. The Bankruptcy Amendment Ordinance recognised that this particular issue needed to be addressed. Whilst it accepted that the rights [...]

We do not believe that it is a function of bankruptcy to keep a person in a state of bankruptcy indefinitely.

Quote from the Law Reform Commission report on Bankruptcy
Until the introduction of the Bankruptcy Amendment Ordinance it was extremely difficult [...]

Connected persons are defined in S51B of the Bankruptcy Ordinance which is reproduced below.

(1) For the purposes of sections 49 to 51A, any question whether [...]