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Fraudulent Transfers

Puerto Rico Bondholders Lose Another Appeal in the First Circuit

The First Circuit shows no inclination to allow creditors to bust out of the PROMESA restructuring of Puerto Rico’s debt.

1st Circuit

Ninth Circuit Creates a Legal Fiction to Uphold Recovery of an Unauthorized Transfer

Ninth Circuit assumed that transferred property must remain property of the estate after conversion from ‘13’ to ‘7’ before the chapter 7 trustee can avoid an unauthorized transfer under Section 549.

9th Circuit

Lawyer for Madoff Customer Slapped with $57,347 Discovery Sanction

Calling the Madoff trustee a liar and basing a discovery motion on facts known to be false resulted in sanctions under Rule 37(a)(5)(B).

2nd Circuit
New York
New York Eastern District

The Good-Faith Defense to Fraudulent-Transfer Claims

May 2020

Bankruptcy Code
548(a)(1)(A)
550(a)
550(a)(2)
548
550
Topic Tags
Bankruptcy Litigation
Fraud
Fraudulent Transfers
Finance and Banking
SEC Issues
Monday, March 16, 2020
Article Tags
Claims
Bankruptcy Litigation
Court Administration
Creditors' Committee
Fraud
Fraudulent Transfers
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To Impair an Exemption, Judicial Lien Must Attach to Property the Debtor Already Owns

A judicial lien may be avoided under Section 522(f) only if the lien attached after the debtor acquired the property.

2nd Circuit

District of Columbia Rejects the Jewel Doctrine, Joining California and New York

Lawyers leaving a bankrupt firm are not required to pay over profits on hourly matters they take to their new firms.

D.C. Circuit

Venue in Small-Value Preference Cases After the SBRA: Congress Should Have Amended 28 U.S.C. § 1409(b)

April 2020

Topic Tags
Bankruptcy Litigation
Fraudulent Transfers
Preferences

Fraudulent Transfer Damages Limited to Creditors’ Total Claims

Delaware’s Judge Owens won’t allow perpetrators of a fraudulent transfer to benefit from avoiding the transfer.

3rd Circuit
Delaware

Four-Year Statute of Limitations Can Stretch to at Least Seven Years, Judge Owens Says

The one-year discovery clause in UFTA allows a debtor or trustee to file an avoidance suit even if the ordinary four-year statute has elapsed.

3rd Circuit
Delaware
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