Share on LinkedInShare on LinkedIn

ARTICLE · 09 MARCH 2015

Fraudulent Conveyance, Void As Against Creditors

Sole director allowed redemption of his preference shares in closely-held private corporation at nominal amount and then became bankrupt.

CanadaLitigation, Mediation & Arbitration
Speigel Nichols Fox LLP
Speigel Nichols Fox LLP

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.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from