https://www.taxtmi.com/acts?id=12938 A person who receives a fraudulent preference in a company's winding up is subject to the same liabilities and rights as if personally liable as a surety for the debt, to the extent of the mortgage or charge or the value of their interest, whichever is less. The interest's value is fixed at the transaction date and assessed free of encumbrances except the securing mortgage or charge. The Tribunal may determine disputes and grant relief between the payee and the surety or guarantor, and may bring the surety or guarantor in as a third party; this extends to non-monetary transactions with necessary modifications. en-us Wed, 18 May 2011 12:07:39 +0530 Wed, 18 May 2011 12:07:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12938 A person who receives a fraudulent preference in a company's winding up is subject to the same liabilities and rights as if personally liable as a surety for the debt, to the extent of the mortgage or charge or the value of their interest, whichever is less. The interest's value is fixed at the transaction date and assessed free of encumbrances except the securing mortgage or charge. The Tribunal may determine disputes and grant relief between the payee and the surety or guarantor, and may bring the surety or guarantor in as a third party; this extends to non-monetary transactions with necessary modifications. Act-Rules Companies Law Wed, 18 May 2011 12:07:39 +0530 https://www.taxtmi.com/acts?id=12938