Gregor Grant was the president and sole shareholder of Grant’s Contracting Ltd. The company was…

Gregor Grant was the president and sole shareholder of Grant’s Contracting Ltd. The company was petitioned into bankruptcy. In the course of investigating the company’s affairs in the period before the petition, the trustee discovered that a cheque received in payment from a supplier had not been deposited in the company’s account but had been diverted to another company owned by Gregor’s brother, Harper. Harper had kept some of the money for himself and returned the remainder in smaller amounts to Gregor. What, if anything, can the trustee do about this transaction? What could be the impact on the two companies, the two brothers, and the customer who sent the cheque?

 

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