What is the test for standing to set aside a transfer of funds under the Proceeds of Crime and Insolvency Acts?
Alberta, Canada
The following excerpt is from 1280055 Alberta Ltd. v. Zaghloul, 2012 ABQB 10 (CanLII):
It relies on the decision of this Court in Krumm v. McKay 2003 ABQB 437, para. 30, to argue that both Acts apply to subsequent creditors and therefore it has standing to set aside the transfer, with the result that there is no arguable defence.
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