News & Analysis as of

Fraudulent Conveyance

Bennett Jones LLP

In Dealing with Fraudulent Conveyances—The Rebuttable Presumption of Fraudulent Intent—IE CA 3 Holdings Ltd. v NYDIG ABL LLC, 2024...

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A requirement of proving a fraudulent conveyance occurred is establishing that the conveyance was fraudulently intended. Courts in British Columbia will rely on the presence of ‘badges of fraud’, such as whether the...more

Dickinson Wright

Lawyers and Business Owners Beware! New Decision Threatens to Make Asset Protection More Difficult

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Business owners often use a strategy to protect their assets from potential creditors seeking to realize on their debts. To protect themselves, business owners can transfer ownership of property to family members or create...more

Farrell Fritz, P.C.

Pitfalls for Corporate Counsel in Business Divorce Disputes

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No corporate lawyer wants to get drawn into a nasty litigation between an entity’s owners. But the reality is that corporate and general counsel often find themselves unwittingly ensnared in business divorce cases. Sometimes...more

Bennett Jones LLP

Ontario Court of Appeal Considers Interpretation of “Creditors or Others” Under the Fraudulent Conveyances

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The Ontario Fraudulent Conveyances Act (the FCA), a concise statute of long-standing that traces its history to an English statute of 1571, is intended to prevent conveyances of property made with the intent to defeat,...more

J.S. Held

Analysis of Fraudulent Conveyance Actions

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Disputes over allegedly fraudulent conveyances have become more common in bankruptcy cases. Fraudulent transfer allegations are also common in transactions such as leveraged buy-outs and recapitalizations. Analysts are...more

PilieroMazza PLLC

FCA Implications for M&A Transactions

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In mergers and acquisitions, the False Claims Act is an important consideration that both buyers and sellers need to address, particularly if the target company is the focus of an FCA investigation. It’s also important for...more

PilieroMazza PLLC

[Webinar] FCA Implications for M&A Transactions - July 26th, 2:00 pm - 3:00 pm EDT

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In mergers and acquisitions, the False Claims Act is an important consideration that both buyers and sellers need to address, particularly if the target company is the focus of an FCA investigation. It’s also important for...more

PilieroMazza PLLC

[Webinar] FCA Implications for M&A Transactions - June 29th, 2:00 pm - 3:00 pm ET

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In mergers and acquisitions, the False Claims Act is an important consideration that both buyers and sellers need to address, particularly if the target company is the focus of an FCA investigation. It’s also important for...more

Kelley Drye & Warren LLP

Ten Years Gone – Delaware Bankruptcy Judge Rejects Effort to Extend Lookback Period for Avoidance of Pre-Bankruptcy Transfers

A recent decision by Delaware Bankruptcy Judge John Dorsey will limit the ability of bankruptcy trustees to expand the lookback period for avoiding pre-bankruptcy transfers beyond the four years provided under most state law...more

Lowenstein Sandler LLP

Risk of Personal Liability Despite Incorporation

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One of the fundamental principles of corporate law is that the owners, directors and officers of a corporate entity generally are not personally responsible for the entity’s debts. Without this insulation from personal...more

Farrell Fritz, P.C.

All You Need Is Love… And An Articulable Nexus Of Fraud

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What can you do when the parties you are suing are effectively judgment-proof? Oftentimes, plaintiffs will try to go after a defendant’s family member or related entity. ...more

Farrell Fritz, P.C.

Disguised Agreements and Dissolution

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Appearances can be deceiving. - That, essentially, was the argument made in two recently decided cases involving claims for judicial dissolution. ...more

Fox Rothschild LLP

CONVEYANCES OF MARITAL PROPERTY INTO TRUSTS Superior Court Holds Such Gifts May Be Fraudulent

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The Superior Court issued a non precedential decision on September 21 grappling with a question that has lingered since Pennsylvania adopted equitable distribution forty years ago. What happens to transfers of marital assets...more

Rosenberg Martin Greenberg LLP

Supreme Court of Virginia Adopts “Morgan Theory” of Presumptions In Fraudulent Conveyance Cases

The outcome of litigation often depends on which party has the burden of presenting evidence to support its claim (the “Burden of Production”) and persuading the judge or jury that it has a viable claim (the “Burden of...more

Ballard Spahr LLP

CFPB Brings Claim Against Former Debt Collection Company Executive and His Family for Allegedly Seeking to Fraudulently Transfer...

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Recently, the CFPB and New York Attorney General filed a complaint against Douglas MacKinnon and members of his immediate family to unwind the allegedly fraudulent conveyance of MacKinnon’s $1.6 million home made shortly...more

Rosenberg Martin Greenberg LLP

Maryland Court of Appeals: Change of Beneficiary of Insurance Policy Is “Conveyance” Under Uniform Fraudulent Conveyance Act

In a March 9, 2021 opinion, the Maryland Court of Appeals signaled the end of what it termed “an elaborate web of procedural history” by answering two questions certified to it by the United States District Court for the...more

Farrell Fritz, P.C.

The Oral Partnership Operating as a Corporation: Is it a Partnership? A Corporation? Can it be Both?

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Oral agreements to form and operate business enterprises are a recurring subject of this blog. We’ve written many times, for example, about the comparative ease vis-a-vis other kinds of entities with which one can...more

ArentFox Schiff

SDNY Allows Nine West LBO Securities Litigation to Move Forward

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In early December, the United States District Court for the Southern District of New York denied, in part, a motion to dismiss claims of breach of fiduciary duty and recovery of fraudulent conveyances brought against former...more

Jones Day

New York District Court Expands the Scope of the Bankruptcy Safe Harbor for LBO Payments

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In 2019, the U.S. Court of Appeals for the Second Circuit made headlines when it ruled that creditors' state law fraudulent transfer claims arising from the 2007 leveraged buyout ("LBO") of Tribune Co. ("Tribune") were...more

Miles & Stockbridge P.C.

Bankruptcy Court Within Fourth Circuit Permits Fraudulent Conveyance Claims to Move Forward Under IRS 10-Year Reach Back Period

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A recent opinion by the United States Bankruptcy Court for the Western District of North Carolina kept alive a bankruptcy trustee’s fraudulent conveyance claims based on, in part, the Internal Revenue Code (“IRC”) 10-year...more

Wiley Rein LLP

D&O Claim Deemed Related to Prior Suit Brought by Different Parties

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The United States District Court for the District of Connecticut, applying Connecticut law, has found no coverage under a director and officers liability policy for a claim alleging the fraudulent conveyance of a company...more

Freeman Law

Fraudulent Conveyances

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Section 548 of the Bankruptcy Code provides a bankruptcy trustee (or the debtor-in-possession) the power to set aside or “avoid” certain transfers of the debtor’s assets out of the bankruptcy estate that may otherwise place...more

Jones Day

Expanding the Scope of the Bankruptcy Safe Harbor for Securities Transactions

Jones Day on

In 2019, the U.S. Court of Appeals for the Second Circuit made headlines when it ruled that creditors' state law fraudulent transfer claims arising from the 2007 leveraged buyout ("LBO") of Tribune Co. ("Tribune") were...more

ArentFox Schiff

Recent Opinion from New York State Court Curtails Indenture Trustees’ Authority to Commence Pre-Default Actions

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New York County Supreme Court Justice Schecter dismissed a fraudulent conveyance action brought by UMB Bank, N.A., the indenture trustee for certain of Neiman Marcus’ senior notes, on the basis that the applicable indenture...more

Fox Rothschild LLP

How To Avoid Ending Up In The Crosshairs Of The SEC In The Wake Of COVID-19

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The Securities and Exchange Commission has signaled that it expects to see an uptick in fraudulent accounting activities in the wake of the financial downturn caused by the COVID-19 pandemic. In a similar vein, the Financial...more

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