The law of fraudulent preference and conveyances is outdated and still relies on the English Fraudulent Conveyances Act, 1571. The law in this area also lacks a clear policy foundation and needs to be clarified and modernised. In 2012, the Uniform Law Conference of Canada recommended new legislation to update this area of the law. The Alberta Law Reform Institute has reviewed the work of the Uniform Law Conference of Canada and recommends that Alberta adopt […]
|TAGS||credit, creditor, debt, fraudulent, preferences, reviewable, transactions|
March 1, 2016
The Bulk Sales Act, RSA 1980, c B-13, was created to protect the creditors of retailers who sell their stock and disappear before paying off their debts. The Act (as it was at the writing of this report) required that anyone buying an unusually large amount of a retailer’s stock and trade fixtures must first obtain a list of the retailer’s debts, and must pay the retailer’s creditors directly (or obtain their consent), before the […]
|TAGS||bulk sale, buyer, credit, creditor, debtor, fraud, fraudulent, merchant, seller|
Miscellaneous Statutes Amendment Act, 1992, SA 1992, c 21, s 5 (repealed the Bulk Sales Act).
January 1, 1990