484. Transactions at an undervalue and preferences.

Where a person has entered into a transaction at an undervalue with the purpose of defeating the claims of creditors, the court may make an order for restoring the position to what it would have been if the transaction had not been entered into and for protecting the interests of persons prejudiced1. Similarly, where an individual is adjudged bankrupt and has entered into a transaction at an undervalue or has given a preference, the court may make an order to restore the position to what it would have been if the transaction had not been entered into or the