Read the full judgment text of HCA 006903/1988 on BabelCite. This High Court CFI judgment.
1. When the creditors of an unsuccessful business find the company operating the business has transferred its assets to someone else, leaving the debtor company unable to meet its liabilities, those creditors have a justifiable grievance. The legislature provided some degree of protection for such creditors by the Fraudulent Transfers of Businesses Ordinance, Chapter 49; and it enlarged that protection by the Transfer of Businesses (Protection of Creditors) Ordinance (which repealed and replaced