670. Effect of order on third parties.

An order made by the court in relation to transactions at an undervalue or preferences1 may affect the property of, or impose any obligation on, any person whether or not he is the person with whom the individual in question entered into the transaction or, as the case may be, the person to whom the preference was given; but such an order:

  1.  

    (1)     does not prejudice any interest in property which was acquired from a person other than that individual and was acquired in good faith and for value, or prejudice any interest deriving from such an interest; and

Popular documents