2712                                          LAWS OF MARYLAND                                     Ch. 545

full power to enforce obligations or liabilities in favor of the
insolvent.

[(b)] (D) All preferencesk preferences, payments, [and]
transfers, AND OBLIGATIONS made or suffered by the insolvent
which are fraudulent, void, or voidable under any act of the
Congress of the United States relating to bankruptcy are
fraudulent, void, or voidable, respectively, under this subtitle
TO THE SAME EXTENT THAT THEY WOULD BE FRAUDULENT, VOID, OR
VOIDABLE UNDER APPLICABLE FEDERAL BANKRUPTCY LAW.

[(c)] (E) Any assignee for the benefit of creditors or
receiver of the assets of an insolvent may set aside any:

(1)  Fraudulent conveyance as defined in Subtitle 2 of
this title; AND

(2)   [Preferential transfer made by the     insolvent to
or for the benefit of a creditor within four  months of the
commencement of the proceeding for or on account of  an antecedent
debt if:

(i) The transfer was made or suffered by the
insolvent; and

(ii) The creditor receiving the preference or
his agent had, at the time when the transfer was made, reasonable
cause to believe that the insolvent was insolvent.

(3)  Lien against the property of the insolvent
obtained by judgment, levy, or other legal or equitable process
or proceeding within four months of the commencement of the
proceeding, if at the time the lien was obtained, the insolvent
was insolvent.] PREFERENCE, PAYMENT, TRANSFER, OR OBLIGATION THAT
IS FRAUDULENT, VOID, OR VOIDABLE UNDER SUBSECTION (D) OF THIS
SECTION.

[(d)] (F) Any assignee for the benefit of creditors or
receiver of the assets of [the] AN insolvent has, as of the date
of the commencement of the proceeding, the rights:

(1)  Of a creditor [who on the date of the
commencement of the proceeding obtained a judgment against the
insolvent, whether or not such a creditor exists;

(2)  Of a creditor who on the date of commencement of
the proceeding obtained an execution returned unsatisfied against
the insolvent, whether or not such a creditor exists;

(3)  Of a creditor who on the date of the commencement
of the proceeding obtained a lien by legal or equitable
proceeding on all property, whether or not coming into possession
or control of the court, on which a creditor of the insolvent on
a simple contract could have obtained such lien, whether or not
such a creditor exists; and