Insolvency Act, 1936 (Act No. 24 of 1936)

30. Undue preference to creditors
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(1)If a debtor made a disposition of his property at a time when his liabilities exceeded his assets, with the intention of preferring one of his creditors above another, and his estate is thereafter sequestrated, the court may set aside the disposition.

 

(2)For the purposes of this section and section twenty-nine a surety for the debtor and a person in a position by law analogous to that of a surety shall be deemed to be a creditor of the debtor concerned.