Insolvency Fraudulent Transfers

News & Analysis as of

New Year, New Fraudulent Transfer Law

It’s a new year, and we have a new law affecting debtors and creditors in California. Effective January 1, 2016, California’s Uniform Voidable Transactions Act (UVTA) has replaced California’s Uniform Fraudulent Transfer Act...more

Coming Soon to a Jurisdiction Near You: Amendments to the Uniform Fraudulent Transfer Act

Fraudulent transfer law governs a debtor's rights to transfer property vis-à-vis its creditors and provides a mechanism under which a transaction may be unwound if the debtor transfers its property or incurs obligations: (i)...more

Quadrant Structured Prods. Co. v. Vertin, C.A. No. 6990-VCL (Del. Ch. Oct. 20, 2015) (Laster, V.C.)

In this post-trial decision, the Court of Chancery held that a company’s repurchase of senior notes from an insider approximately six months after returning to solvency did not violate the express or implied terms of the...more

California’s New Voidable Transactions Act

California’s recently enacted Uniform Voidable Transactions Act (UVTA), makes it easier for creditors to recover assets that are transferred to third parties when a debtor is insolvent, even when there is no improper intent...more

CMS Investment Holdings, LLC v. Castle et al., C.A. No. 9468–VCP (Del. Ch. June 23, 2015) (Parsons, VC)

In this decision, the Delaware Court of Chancery largely declined to dismiss claims for breach of a limited liability company agreement, breach of the implied covenant of good faith and fair dealing, unjust enrichment, breach...more

Commercial Restructuring & Bankruptcy News - May 2015, Issue 2

In This Issue: - How Safe are the Bankruptcy Code Safe Harbors? - Stockton’s Chapter 9 Plan Approval - Delaware Chancery Court Clarifies Fiduciary Duties of Insolvent Corporation Directors in Derivative...more

Oil Price Decline: Positioning for Turnaround or Sale

As a reaction to the dramatic oil price volatility, many energy companies plan to streamline operations by reducing work force and shedding assets. Those who do so face tightening credit and decline in asset value that may...more

Southern District of New York Holds in Madoff That the Bankruptcy Code Cannot Be Used to Recover Extraterritorial Transfers

Dealing a major blow to the trustee’s efforts to recover fraudulent transfers on behalf of the bankruptcy estate of the company run by Bernard Madoff, Judge Jed S. Rakoff of the United States District Court for the Southern...more

2012 Year In Review – Part 1

In This Issue: - March 9, 2012: Publication of Dynegy Examiner’s Report - March 29, 2012: SDNY Rules That 363 Sales May Not Be Free and Clear of Future Claims - May 15, 2102: Eleventh Circuit Rules in...more

Private Equity Newsletter - Fall/Winter 2012: Recent Developments in Acquisition Finance

Certain recent legal developments will likely impact acquisition finance. This article will survey some of the more notable ones. We discussed in the last newsletter the Eleventh Circuit Court of Appeals’ decision in...more

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