SIME, DARBY AND COMPANY LIMITED Vs. OFFICIAL ASSIGNEE

JUDGEMENT

(1.) On June 10, 1925. Lee Pang Seng, the assignee of whose estate is the respondent to this appeal, transferred to the appellants, to whom he was largely indebted, a quantity of rubber as security for their debt. He was then unable to pay his debts as they became due from his own money. He was adjudged bankrupt on a petition presented within three months after the date of making the transfer. The question in this appeal is whether the transfer is to be deemed fraudulent and void as against the official assignee in the bankruptcy.

(2.) In Singapore the matter is regulated by Section 51(1) of the Bankruptcy Ordinance, which is identical with the provision on the same subject in the English Bankruptcy Act.

(3.) The result depends on the answer to be given to the question was the transfer to the appellants made "with a view of giving them a preference over the other creditors" ?