Article 143 - Preferences
(1) Where the
Company has at a relevant time (defined in Article 144) given a preference to any person, the QFC Court may, on application of an officeholder, make an order restoring the position to what it would have been if the Company had not given that preference.
(2) For the purposes of this Article 143 a
Company gives a preference to a person if:
(A) that person is one of the
Company's creditors or a surety or guarantor for any of the Company's debts or other liabilities; and
Company does anything or suffers anything to be done which (in either case) has the effect of putting that person into a position which, in the event of the Company going into insolvent Liquidation, will be better than the position he would have been in if that thing had not been done.
QFC Court shall not make an order under this Article 143 in respect of a preference given to any person unless the Company which gave the preference was influenced in deciding to give it by a desire to produce in relation to that person the effect mentioned in Article 143(2)(B).
Company which has given a preference to a Connected Person (otherwise than by reason only of being its employee) at the time the preference was given is presumed, unless the contrary is shown, to have been influenced in deciding to give it by such a desire as is mentioned in Article 143(3).