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Jones Day

Third Circuit Rules That Transfer by Nondebtor Is Not Avoidable as Fraudulent Transfer Under Delaware UFTA

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In Crystallex International Corp. v. Petróleos de Venezuela, S.A., 879 F.3d 79 (3d Cir. 2018), a divided U.S. Court of Appeals for the Third Circuit ruled that transfers by nondebtor subsidiary corporations to their ultimate...more

Mintz - Bankruptcy & Restructuring Viewpoints

Split Third Circuit Holds Transfer By Non-Debtor Cannot Be Fraudulent Transfer

Mintz - Bankruptcy & Restructuring Viewpoints on

Refusing to rely on “equitable principles” when interpreting the Delaware Uniform Fraudulent Transfer Act (DUFTA), the Third Circuit (2-1 decision) in Crystallex Int’l Corp. v. Petroleos De Venezuela, S.A, et als. held that a...more

Patterson Belknap Webb & Tyler LLP

Third Circuit Holds Transfer from Non-Debtor Precludes Liability Under Delaware Fraudulent Transfer Law

Patterson Belknap Webb & Tyler LLP on

In Crystallex Int'l Corp. v. Petróleos de Venez., S.A., Nos. 16-4012, 17-1439, 2018 U.S. App. LEXIS 95 (3d Cir. Jan. 3, 2018), the U.S. Court of Appeals held there could be no fraudulent transfer liability under the Delaware...more

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