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A Florida Court Rules in Favor of a Title Insurance Company Because Plaintiff Failed to Meet His Burden of Proof on Issue of Reasonably Equivalent Value

April 10, 2021 admin

The Court ruled that a debtor's transfer of assets to a defendant was not avoidable as a fraudulent transfer under 11 U.S.C.S. § 548 and Fla. Stat. §§ 726.105, 726.106, because the debtor transferred tangible assets in exchange for the defendant's assumption of debtor's title insurance policy liabilities.

An Indiana Court Permits ITT Educational Services Trustee to Clawback About $200k Preference Transfers from a Leading Publishing Company

March 23, 2021 admin

Trustee Deborah J. Caruso for the bankruptcy estates of ITT Educational Services, Inc., ESI Service Corp., and Daniel Webster College, Inc. sued Defendant John Wiley & Sons, Inc. to recover alleged preference payments from the Defendant under § 547 of the Bankruptcy Code.

Insufficient Badges of Fraud to Establish Fraudulent Intent, Texas Court Dismisses Trustee’s Claims

March 22, 2021 admin

A Texas Court ruled in the favor of a debtor, holding that alleged cash transfer constituted a fraudulent transfer under 11 U.S.C.S. § 548(a)(1)(A) and TUFTA, as the affirmative defense of reasonably equivalent value or good faith was not shown.

An Involuntary Transfer of a Title to a Farm is Constructively Fraudulent, Debtor Did Not Receive Fair Market Value

March 18, 2021 admin

At issues was - Whether Defendant provided reasonably equivalent value to a Debtor by satisfying tax lien in exchange for a transfer of absolute title to a farm.

Sections 546 (e) and 561 (d) Are Limited to Avoidance Claims, Do Not Explicitly Bar Foreign Common Law Claims.

March 16, 2021 admin

The Court stated that Sections 546(e) and 561(d) are limited to avoidance claims and do not explicitly bar foreign common law claims even if they seek the same relief.

A Trustee’s Fraudulent Conveyance’s Claims Fail, Insufficient Badges of Fraud to Establish Fraudulent Intent

March 11, 2021 admin

The Court held that the Trustee was entitled to a judgment that a cash transfer constituted a fraudulent transfer under 11 U.S.C.S. § 548(a)(1)(A) and TUFTA, as the affirmative defense of reasonably equivalent value or good faith was not shown

A Michigan Bankruptcy Court Enunciates Requirements to Grant a Creditor’s Motion for Derivative Standing in Chapter 13 Cases.

February 16, 2021 admin

The Michigan Court grants creditor's derivative standing motion, with certain conditions and denies the Trustee's abandonment motion.

A Texas Bankruptcy Court Discusses Application of “Contemporaneous Exchange” Against Insider Guarantors

February 2, 2021 admin

The Court discusses the rationale for the creation of the insider concept in the bankruptcy avoidance arena.

Nebraska Court Avoids Perfection of the Security Interest on the Debtor’s Undivided Half-Interest as a Preference

January 30, 2021 admin

The Court declined to accept the defendant's equitable defense and held that the equitable defenses to preference actions are not generally recognized by the bankruptcy courts.

Transfers Made to a Creditor Through its Law Firm Are Preferential, Including Portions Retained by the Firm Under Fee Agreement.