On March 25 2020, Bly Corporation filed a voluntary petition in chapter 7 bankruptcy. Prior to the filing of the petition, the corporation had engaged in the following transactions:

1) On October 1 2019, Bly made a charitable donations to Global Charities.

2) Same as #1, except that the wife of the majority shareholder was the CEO of Global.

3) On March 1 2020 Bly paid off an outstanding loan to Bailey who owns 40% of the corporations stock.

4) On March 10 2020, Bly made the final monthly payment to First National Bank on a 3 year note.

5) On March 15 2020, Bly converted an unsecured note into a secured note for George who was Baileys husband.

The Bankruptcy Court appoints you as the trustee for this bankruptcy. Consider each of the above transactions individually and indicate for each one whether you would set aside the transaction. Be sure to carefully explain your legal reasoning in each one.