S.L. 370.53 Art. 23Acts in fraud of creditors.

(1) Without prejudice to regulations 21 and 22, every act transferring property, whether corporeal or incorporeal, including any rights of action and any renunciation of an acquired prescription, and every obligation incurred or other act made by a Special Limited Partnership Fund which is insolvent or which becomes insolvent as a result of such act or obligation, and which is made under a gratuitous title for the purpose of defrauding the creditors of the Special Limited Partnership Fund, shall be null and void as regards the body of creditors, of whatever kind they may be, even though the parties interested be in good faith.

(2) Every act of the same kind and every obligation made or incurred under an onerous title may be annulled if there be fraud also on the part of the party interested.

(3) Any such act or obligation shall be deemed to be fraudulent as regards the party interested, if it is proved that such party knew of the insolvency of the Special Limited Partnership Fund, whether already existing at the time of the act or obligation or resulting from such act or obligation, or of the existence of circumstances giving rise to such insolvency.