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voidable preferences
voidable preferences

in particular , we are of the opinion that the provisions of article 20 of the rules establishing the enforceability and irrevocability of payment orders will be valid and enforceable and that a payment order submitted by any participant and processed pursuant to title iv of the rules may not be set aside in any insolvency proceedings or proceedings as a preference , voidable transaction or otherwise under the laws of [ jurisdiction ] .
in particular , we are of the opinion that the provisions of article 20 of the rules establishing the enforceability and irrevocability of payment orders will be valid and enforceable and that a payment order submitted by any participant and processed pursuant to title iv of the rules may not be set aside in any insolvency proceedings or proceedings as a preference , voidable transaction or otherwise under the laws of [ jurisdiction ] .