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 ?
7 million was misappropriated in the shape of exorbitant rates and fraudulent transfer from PARC's account to Alpha Motors and Wings Motors.
For example, in Apache, the court noted that the fraudulent transfer was authorized by an employee, albeit to a fraudulent bank account, and that such authorization was one of the reasons the loss was not covered.
If that same transaction is subject to fraudulent transfer avoidance, however, courts routinely employ a probing analysis, informed by 20/20-hindsight and according no deference to directorial decision making.
The wordings do vary but there are often extensions available for fraudulent transfer instructions, computer fraud etc.
He handles matters involving breach of contract disputes, partnership issues, securities law claims, Ponzi schemes, RICO actions, corporate merger and acquisition transactions, and fraudulent transfer claims.
That said, I encourage you to visit the Journal's web page to review the notable activities highlighted in the reports; whether it be the Business Law Section's efforts to modernize Florida's fictitious name statute and fraudulent transfer statute; the International Law Section's TED-inspired ILSTalks that educated, motivated, and inspired its members on topics such as international investigations from a former CIA officer's perspective, the Trans Pacific Partnership, and lifting the Cuban embargo; or the Young Lawyers Division's ongoing advocacy and guidance for those just entering our profession.
That outcry must continue--and grow--and Congress must be put on notice that this fraudulent transfer is unconstitutional and unacceptable.
What is not covered is the fraudulent transfer of anything nonfinancial, such as goods or merchandise.
The malware uses these values to fill in the necessary fields to perform the fraudulent transfer in what appears to be an attempt to bypass protection systems based on the biometrics of user behavior.
SHERWIN Gatchalian yesterday posted bail on graft and malversation charges in connection with the alleged fraudulent transfer of P780 million in Local Water Utilities Administration (LWUA) funds to an insolvent bank owned by his family.
stated that it intercepted a fraudulent transfer of over $1 million in the
BDA acknowledged in a January court filing that it took more than a week after the first fraudulent transfer request for BDA to discover the missing money.