fraudulent transfer of assets

• Ambac Policyholders Seek to Enjoin Ambac Financial Group from Benefiting from Fraudulent Transfer of Ambac Assurance's Assets.

* Ambac Financial Group Improperly Received Upstreamed Value at the Expense of Ambac Assurance Policyholders * Systemic Conflicts of Interest Seen b...

• Business Wire
• August 30, 2010

• Esteco, Inc. v. Kimpel, (Ohio 2007)

Fraudulent transfer; assets unreasonably small; insolvent debtor; badges of fraud.

• Ohio Supreme Court

• 42 CFR 405.376 - Suspension and termination of collection action and compromise of claims for overpayment.

... prospects, possible concealment or fraudulent transfer of assets, and the availability of assets...

• Code of Federal Regulations - Title 42: Public Health

• Porter v. Saez, (Ohio 2004)

Due to a dispute over the performance of a construction contract, plaintiff-appellant sued contractor. Plaintiff-appellant later amended complaint to include contractor's cohabiting girlfriend as a defendant and to include claims of fraudulent transfer of assets and civil conspiracy. Contractor's cohabiting girlfriend moved for summary judgment pertaining to claims of fraudulent transfer of assets and civil conspiracy. Plaintiff-appellant moved for partial summary judgment as to these same claims. Trial court granted contractor's cohabiting girlfriend's motion for summary judgment and denied plaintiff-appellant's motion for parital summary judgment. Plaintiff-appellant appealed. Failing to prove an underlying claim of fraudulent transfer of assets, plaintiff-appellant's claim of c...

• Ohio Supreme Court

• Reverse piercing: a single member LLC paradox.

...OWNERSHIP INTEREST TRANSFER PARADIGM A. TRANSFER OF PARTNERSHIP & LLC INTEREST...REVERSE PIERCING & FRAUDULENT TRANSFERS V. CONCLUSION I. INTRODUCTION . A separa... to advise clients to transfer assets to a single member limited liability company with ...

• South Dakota Law Review
• Vol. 54 Nbr. 2, June 2009

• Stephens v. CTI Audio, Inc., (Ohio 2004)

In an action for the fraudulent transfer of assets under R.C. Chapter 1336, the trial court properly included within the definition of an "asset" real property in which a third party allegedly held a security interest, where the amount of the alleged encumbrance had not been established. The trial court's finding that the defendants had transferred assets with the intent to hinder, delay, or defraud their creditor, the plaintiff, was supported by the evidence. Judgment affirmed.

• Ohio Supreme Court

• Legal Notes: The Legal Side of Abl

The cases selected for this issue address the "good faith" transferee defense available to subsequent transferees of a fraudulent transfer under Section 550(b) of the Bankruptcy Code and whether statements made by a lender about a guarantor's business conduct may constitute defamation per se. In addition, the authors have provided an update on a previous case they wrote about where a lender was subject to a one-year preference look back period. In CNB Int'l Inc v. Kelleher(CNB Int'l Inc), the Bankruptcy Court found that the consideration paid by CNB as part of the leverage buyout was approximately $11.3 million more than the value of the assets it received and that this amount constituted an avoidable fraudulent transfer. Meanwhile, in Schubert v. Lucent Technologies Inc, the Third Circ...

• Secured Lender, The
• Vol. 65 Nbr. 4, May 2009

• Non-Employees of Chateau Estates Resident Assn. v. Chateau Estates, Ltd., (Ohio 2006)

Appellants appealed from trial court’s denial of their motion for a protective order seeking to prevent discovery of their financial and tax records. Trial court’s decision denying motion for protective order was in error as to Appellants Helen and the Turners, because they were not the transferors in the conveyance and thus their financial condition after the transfer of assets was immaterial in determining whether a fraudulent conveyance under R.C. 1336.01 et seq. occurred. Trial court’s decision was premature in denying motion for protective order of Appellant Chateau because the trial court had not yet determined if Appellees were “creditors” of Chateau as defined by R.C. 1336.01(D), and if Appellees were not creditors they would not be entitled to discovery of Chateau’s financial...

• Ohio Supreme Court

• Is your wire transfer system secure?

Financial institutions (FIs) with loosely monitored wire transfer systems are highly vulnerable to the risk of loss. With many FIs transmitting wires that exceed their total assets in any given day, a fraudulent wire transfer could easily drive an institution out of business. Wire transfers come in two forms: outgoing and incoming. Of the two, outgoing wires entail more risks because the originating company no longer has any control over the final disposition of the wired funds. However, incoming wires are not without risks. It is possible for incoming funds to be intercepted and diverted to another account and then withdrawn in cash. Fortunately, there are measures that can be taken to minimize such risks. One is the separation of duties to make sure that no one can single-handedly ini...

• Internal Auditor
• Vol. 52 Nbr. 3, June 1995

• Focus on Tax Controversy and Litigation.

... tax that will be collected on the assets (including interest earnings, dividends, capital g... ("GRA") with respect to an initial transfer but does not satisfy the requirements of Treasury ... because it participated in a fraudulent transfer of assets with Double-D Ranch because the...

• Mondaq Business Briefing
• Nbr. 2010, January 2010