Court: Intention to continue business insufficient on its own to clear BIA preference test

By Karunjit Singh ( May 20, 2025, 3:47 PM EDT) -- The Ontario Court of Appeal has held that an insolvent debtor’s intention to stay in business does not rebut the presumption that a payment to a creditor shortly before bankruptcy is intended as preference over other creditors, unless there is a reasonable basis to believe it will benefit creditors generally....