Fraudulent Conveyance

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Fraudulent Conveyance

The transfer of property to another party in order to defraud a creditor. For example, if a person owes the bank for a loan for $15,000, the person may give or sell $15,000 worth of property to a relative, often while still maintaining use of the property, in order to prevent the bank from being repaid. Legally, fraudulent conveyance requires the intention to defraud a creditor.
References in periodicals archive ?
Ransomware and social engineering attacks to recover from instances of cyber extortion or fraudulent transfer instructions
* Ransomware and social engineering attacks - to recover from instances of cyber extortion or fraudulent transfer instructions
McKay, who was involved in Cardiff City's signing of Emiliano Sala before the striker's death in a plane crash, was scheduled to appear before the bench at Manchester Magistrates' Court yesterday to face fraudulent transfer of property charges.
2001), reviewed over 100 years of jurisprudence to explain the historical and legal contours of the Florida Constitution's homestead exemption and its intersection, if any, with the Florida Uniform Fraudulent Transfer Act (FUFTA).
'There is no better way to describe the acts of respondents than this,' read the resolution adding that with the notices received on the possible fraudulent transfer of huge sums of money, the respondents should have taken an investigation.
(TAP) - A final arbitration award (Final Award) has been delivered in relation to Celamin's dispute with TMS in relation to the fraudulent transfer to TMS of Celamin's 51% shareholding in Chaketma Phosphates SA (CPSA), the operating company which holds the Chaketma Phosphates Permit and the world-class Chaketma Phosphate Project in the Kasserine region, central-western Tunisia.
The report said that Park and his associates were also responsible for "fraudulent transfer of $81 million from Bangladesh Bank," according to the US.
Investigating officer, Detective Constable, Neil Lofthouse, based at Loddon Valley police station, said: "Gray has been convicted in relation to the fraudulent transfer of a six figure sum from the company accounts of a business for which he was a director.
In the same suit, she alleged that the insurer and Franklin had engaged in fraudulent transfer. In 2010, the insurer had paid $900,000 to Franklin and his then-wife to settle Franklin's claims that the insurer had improperly refused to defend him from the litigation he faced.
Hilton granted Garner's motion for summary judgment, finding that Bennett's fraudulent transfer claim and alter-ego claims were precluded under Virginia's doctrine of res judicata.
The fraudulent transfer law prevents a debtor from illegally transferring assets and properties to another person or entity with the intention of delaying, hindering and defrauding a creditor and leaving no value to their estates to satisfy the creditor's claim.