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Fraudulent Transfers Transfers

Dechert LLP

Third Circuit Finds That Prepetition Option Termination Is Not Transfer

Dechert LLP on

Under Section 101(54) of the bankruptcy code, any means of disposing with an interest in property is considered a transfer, and therefore, under certain circumstances, may be avoided as a preference or fraudulent transfer. In...more

Obermayer Rebmann Maxwell & Hippel LLP

Bankruptcy Avoidance Litigation Part I — Do I Really Have to Give That Payment Back?

(Part one in a two-part series on avoidance litigation in bankruptcy cases) While initial consumer and commercial bankruptcy filings have, in recent years, ebbed in the wake of the historic highs of the Great Recession,...more

Stinson LLP

Eighth Circuit Says Focus is on the Intent of the Debtor in Fraudulent Transfer Law, Does Not Address Ponzi Scheme Presumption

Stinson LLP on

This case is the product of yet another dispute in the extensive, multi-billion dollar fraud perpetrated by Tom Petters. In 2005, as the sole board member of Petters Group Worldwide, LLC (“PGW”), Petters directed the...more

Sheppard Mullin Richter & Hampton LLP

Attacking LBO Payouts as State Law Fraudulent Transfers

The United States Bankruptcy Court for the Southern District of New York (the “Court”) in Weisfelner v. Fund 1 (In Re Lyondell Chemical Co.), 2014 WL 118036 (Bankr. S.D.N.Y. Jan. 14, 2014) recently held that the safe harbor...more

Mintz

Lyondell: Is the Safe Harbor Closed to Former Shareholders of LBOs?

Mintz on

In a recent decision by the United States Bankruptcy Court for the Southern District of New York, Weisfelner, v. Fund 1, et al. (In re Lyondell Chem. Co.), 2014 Bankr. LEXIS 159 (Bankr. S.D.N.Y. January 14, 2014), the Court...more

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