Split Widens on Trustee’s Ability to Use the IRS’s Longer Statute of Limitations
North Carolina Judge disagrees with the Fifth Circuit on extending the statute of limitations to 10 years under Section 544(b)(1).
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Detroit Judge Criticizes the Second Circuit’s Tribune Decision on the Safe Harbor
The Supreme Court is considering whether to review another case defining the safe harbor in Section 546(e).
Fifth Circuit Again Says: No ‘Futility Defense’ Under the Texas UFTA
Following the answer by the Texas Supreme Court to a certified question, the Fifth Circuit again rules that an inability to discover fraud won’t absolve a transferee from the duty to investigate suspicions of fraud.
A Gaming License Isn’t ‘Property’ and Thus Can’t Be Fraudulently Transferred
A gaming license in Pennsylvania is a revocable ‘privilege.’
Second Circuit Upholds the Madoff Trustee’s Calculation of Fraudulent Transfer Claims
Fictitious profits in account statements don’t represent ‘value’ and give rise to a defense for receipt of a fraudulent transfer with ‘actual intent,’ the Second Circuit rules.
‘No Harm, No Foul’ Doesn’t Entitle a Debtor to a Discharge, BAP Says
Advice-of-counsel defense doesn’t work when intent is clearly fraudulent.
Using a Casino’s ATM Makes the Casino the Initial Transferee, Not a ‘Mere Conduit’
New York judge gives casinos the responsibility for assuring that a gambler’s use of a corporate ATM card is not a fraudulent transfer.