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A fraudulent conveyance or fraudulent transfer is the transfer of property to another party to prevent, hinder, or delay the collection of a debt owed by or incumbent on the party making the transfer, sometimes by rendering the transferring party insolvent.[1] It is generally treated as a civil cause of action that arises in debtor/creditor relations, typically brought by creditors or by bankruptcy trustees against insolvent debtors, but in some jurisdictions there is potential for criminal prosecution.[2]
- ^ Black, Henry Campbell; Nolan, Joseph R.; Nolan-Haley, Jacqueline M. (1990). Black's Law Dictionary (6th ed.). St. Paul, Minnesota: West Publishing Co. ISBN 0-314-76271-X.
- ^ Davies, Kevin; Roy, Julian (1998). "Fraud in the Canadian courts: An unwarranted expansion of the scope of the criminal sanction". Canadian Business Law Journal. 30: 210. Retrieved 10 September 2017.