Of the following, which is a payment that is treated as a voidable preference un

ID: 377977 • Letter: O

Question

Of the following, which is a payment that is treated as a voidable preference under bankruptcy law?

Question 13 options:

A transfer in the ordinary course of business.

A payment to a purchase-money security interest creditor.

A payment to a business's main supplier for a preexisting debt.

A payment of a fully secured loan.

All of the above are voidable preferences once the debtor files a petition for bankruptcy relief.

A transfer in the ordinary course of business.

A payment to a purchase-money security interest creditor.

A payment to a business's main supplier for a preexisting debt.

A payment of a fully secured loan.

All of the above are voidable preferences once the debtor files a petition for bankruptcy relief.

Explanation / Answer

A voidable (as per bankruptcy law) is transaction is a payment of money, transfer of property or other transaction from the Bankrupt’s assets to a related or unrelated third party that effectively causes a detriment to the Bankrupt

So option e is correct (All of the above are voidable preferences once the debtor files a petition for bankruptcy relief.)

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Of the following, which is a payment that is treated as a voidable preference un

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Explanation / Answer

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