Reduction of Alienations made by Bankrupts where the Reducer has done no Diligence.
Subject_3 SECTION I.
Of Onerous Alienations.
Blaikie v. Robertson
Date: 9 March 1781 Case No. No 12.
A sale contrived to elude the statutes, by means of instant payment to interposed persons, in order to favour particular creditors, reduced.
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It has been found, that a voluntary disposition for a price instantly paid, and not for anterior debts, fell not under the statutes 1621 and 1696: In like manner, that voluntary securities, granted for money instantly received, were not affected by these statutes; Erskine, large Instit. b. 4. tit. 1. § 43. In this case, it appeared from a proof, that the sums for which an heritable security was granted by the bankrupt, had been advanced by a favourite creditor, through an interposed person, in order to prefer that creditor, by making payment to him of the money so advanced: The transaction being thus evidently calculated to elude the statutes,
The Lords ‘reduced the security.’
Ordinary, Lord Braxfield.Act. Ilay Campbell, Craig.Alt. M'Laurin, Abercrombie.
Fol. Dic. v. 3. p. 48. Fac. Col. No 51. p. 90.
