If its a "fraudulent transfer" its a crime (or at least a "civil wrong").

- http://en.wikipedia.org/wiki/Fraudulent_conveyance

- http://www.law.cornell.edu/uscode/text/11/548

If a company pays its investors in an attempt to avoid a debt, the investors may have to return the cash in bankruptcy court. "Piercing the corporate veil" isn't necessary. (Caveat: I am a lawyer, but not a bankruptcy lawyer, and I don't really know what I'm talking about here).

edit: dragonwriter nailed it with "unfair preference"... "fraudulent conveyance" must be something else.