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fraudulent transfer in bankruptcy
4.018 documents for fraudulent transfer in bankruptcy
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United States Bankruptcy Appellate Panel. FOR THE E... fraudulent transfer action, holding that the Debtor could not...
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Last October, the US Bankruptcy Court in Florida issued a significant decision in the Chapter 11 proceeding for homebuilder Tousa Inc, which sent a clear message to secured lenders. Other recent rulings in bankruptcy courts around the country have confirmed that message: Secured lenders need to ensure the financial health of their borrowers. In the Tribune Co bankruptcy, a court-appointed examiner concluded that fraud played a part in the company's 2007 leveraged buyout, which put real estate tycoon Sam Zell in control of both the Chicago Tribune and Los Angeles Times and thus constituted a fraudulent transfer. In the Yellowstone Mountain Club bankruptcy case, the judge ruled against the secured lenders on an equitable subordination claim. The key items the judge cited in his decision w...
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The cases selected for this issue address a number of timely topics: 1. whether the consent of all lenders in a syndicated loan facility is required in order to authorize the agent to make a credit bid in a section 363 sale, 2. whether a section 363 sale should be approved by the court in lieu of a plan of reorganization, and 3. how contingent liabilities should be valued when determining whether a debtor was insolvent for purposes of state fraudulent transfer law. In re GWLS Holdings Inc, 2009 Bankr. Lexis 378 (Feb 23, 2009), the Bankruptcy Court overrules objection of dissenting lender to agent's proposed credit bid of lending group's claim. Meanwhile, In re Gulf Coast Oil Corp, 2009 WL 361741 (Bankr. S.D. TX Feb 11, 2009), the Bankruptcy court holds that debtors did not demonstrate a...
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The family limited partnership has been touted as the ideal estate planning vehicle because of the ability to protect assets from creditors, but the protections are not unlimited. A creditor of a partner can reach the beneficial interest of a partner by obtaining a charging order, but a beneficial interest alone only allows for distribution participation. Other threats to the assets include increased creditor protection by the courts, fraudulent transfer laws, liability resulting from an asset, bankruptcy of a partner, perfected security interests in a partner's share and personal liability of the general partner.
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A former bankruptcy lawyer pleaded guilty in Baltimore's federal court Friday to four counts of bankruptcy fraud and fraudulent transfer of property in bankruptcy. Bridgette M. Harris, 45, had been suspended from practice in Greenbelt's bankruptcy court for what its judges called a course of continuing conduct - of malfeasance and nonfeasance that appeared to put her clients' affairs in jeopardy, according to the office of U.S. Attorney Thomas M. DiBiagio.
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... . Respondent, the bankruptcy trustee for a corporation undergoing Chapter 11 re..., seeking to avoid allegedly fraudulent monetary transfers to them by the bankrupt corpora...
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A former Landover bankruptcy lawyer who may be the only non- member of the state bar ever to be disbarred was sentenced to 18 months' incarceration for bankruptcy fraud and fraudulent transfer of property in bankruptcy yesterday in U.S. District Court in Greenbelt. Bridgette M. Harris, 46, who had pled guilty last March, was also ordered to pay $8,765 in restitution to former clients and to cooperate with creditors holding civil judgments against her, according to a statement released by the office of acting U.S. Attorney Allen F. Loucks.
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Federal bankruptcy law ("Bankruptcy Code") serves two purposes: to allow creditors to share equally in the assets of the debtor's estate and to provide the honest debtor a fresh start. The equal distribution purpose is achieved when the debtor files for bankruptcy and the debtor's property becomes part of the estate for equal distribution to creditors. A conflict between these two overarching purposes of bankruptcy law arises when a trustee tries to avoid a debtor's prepetition transfer of an asset that the debtor would have otherwise been able to exempt from the estate. Despite policy support, textual support in the Bankruptcy Code, and Congressional intent, courts continue to reach inconsistent conclusions regarding whether a trustee can avoid a debtor's prepetition transfer of exempt...
... the debtor's transfer of the house was fraudulent. The debtor consults his attorney, who assures him...
