Transfers at Undervalue: New Wine in Old Wineskins?

27 Pages Posted: 30 Aug 2017

See all articles by Roderick J. Wood

Roderick J. Wood

University of Alberta - Faculty of Law

Date Written: August 28, 2017

Abstract

Section 96 of the Bankruptcy and Insolvency Act sets out provisions that permit a trustee in bankruptcy to challenge pre-bankruptcy transfers at undervalue entered into by a debtor. These provisions were amendments to the BIA that came into force in 2009. There can be no doubt that the transfer at undervalue provisions are vastly superior to the provisions that they replaced. The tools that are now at hand are much better suited to realizing the underlying objectives of bankruptcy and insolvency law. However, the new provisions recycle several features of prior law. Jurisdictions that have reformed their outdated fraudulent conveyance law will find that they have not been able to fully escape the hold of the past – many features of the old law are now preserved in the transfer at undervalue provisions of the BIA.

Keywords: Bankruptcy, Insolvency, Transfers at Undervalue, Reviewable Transactions

Suggested Citation

Wood, Roderick J., Transfers at Undervalue: New Wine in Old Wineskins? (August 28, 2017). Available at SSRN: https://ssrn.com/abstract=3028353 or http://dx.doi.org/10.2139/ssrn.3028353

Roderick J. Wood (Contact Author)

University of Alberta - Faculty of Law ( email )

Law Centre (111 - 89 Ave)
Edmonton, Alberta T6G 2H5
Canada

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