One example of a corporate transaction that has recently been avoided as a fraudulent conveyance
is a spinoff.
435) In reversing, the appellate division noted that, under New York's fraudulent conveyance
For articles opposing the application of fraudulent conveyance
law to LBOs, see Douglas G.
Not only has GEA sought no injunctive relief; it waited two years after discovering the alleged fraudulent conveyance
to file suit at all.
At present, third-party remedies against shareholders or affiliates principally arise under the rubrics of piercing the corporate veil and fraudulent conveyance
240) In In re Blixseth, a Montana bankruptcy court held that while it was defined by statute as core, a fraudulent conveyance
claim was a state law claim that did not fall within the public rights exception.
If the loan proceeds are funneled back to the debtor, then there will be no fraudulent conveyance
because the debtor has received reasonably equivalent value.
Hy-Drive said it is the plaintiffs' position that CHEC's motion to stay the fraudulent conveyance
is without merit since the existing legislation referred to by CHEC is based primarily on the assets alleged to have been fraudulently conveyed by Global Tech.
27) No fraudulent transfer occurs, as a result of a disclaimer, under Florida's fraudulent conveyance
A fraudulent conveyance
occurs "when someone in debt places his or her property out of reach of his or her creditors' process" (1).
According to the Uniform Fraudulent Conveyance
Act (UFCA) to which New York adheres, the creation of an obligation deliberately intended to defraud creditors can be "set aside.
Two obvious questions are 1) whether the transaction is such a sham that the grantor's status as owner continues after the sale, along with consequent liability, and 2) whether the conveyance can be set aside under state statute (for example, under a fraudulent conveyance
statute) or common law rules.