Jenna was a director of Veganlife Limited (VL). The company has been experiencing financial difficulties for the last 18 months. It has incurred a debt of over 150,000 to Free Meat Limited (FM), its main supplier. In June 2023 a winding up petition was presented against VL and a liquidator has just been appointed. The liquidator has told you about the following:

(a) In July 2022, Jennas daughter bought a freehold property from VL for 50,000. Jenna immediately resold it for 100,000.

(b) In September 2022, VL used the 50,000 proceeds of the sale of the freehold property to reduce the debt VL owed to FM. VL also granted FM a floating charge to secure the balance of the debt that was then owed to it (90,000), and in consideration of FM agreeing to supply further services to VL on credit. A debenture recorded this agreement in writing.

(c) In March 2023, Jenna negotiated a deal to provide her local caf with vegan cheeses from April. The caf paid VL 2000 in March 2023, but received no vegan cheese from VL, despite Jenna assuring them that VL was doing very well and hoping to be an exclusive supplier of vegan cheese to a well-known supermarket in the near future.

(d) In May 2021, VL repaid an unsecured loan to Jenna.

Advise the liquidator in relation to each of the transactions (a), (b), (c) and (d) above.