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of <h1>Understanding Sections 43 & 44 IBC: Reversing Preferential Transactions in Liquidation to Ensure Fair Asset Distribution</h1> Sections 43 and 44 of the Insolvency and Bankruptcy Code (IBC) address preferential transactions during the liquidation process. Section 43 defines a preferential transaction as one where a corporate debtor transfers property benefiting a creditor, surety, or guarantor, placing them in a more favorable position than they would be under asset distribution per Section 53. Such transactions are voidable if they occur within two years for related parties or one year for unrelated parties before insolvency commencement. Section 44 empowers the Adjudicating Authority to order the reversal of such transactions. Exemptions include transfers in the ordinary business course or those securing new value. Various case laws illustrate the application and interpretation of these provisions.
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