The United States Supreme Court held in BFP v. Resolution Trust, that properties sold at “force-sale” mortgage foreclosure sales properly conducted pursuant to a state’s foreclosure statute are presumed
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Fraudulent Transfers
Conflicting Opinions on Whether Immediate or Mediate Transferees Must Exercise Control Over Initial Property Transferred to Qualify Under Section 550

In July 2020, the Court in In re Generation Res. Holding Co., LLC, 964 F.3d 958, 962 (10th Cir. 2020), held that subsequent transferees do not qualify as immediate…
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US Supreme Court Requests Solicitor General Input on Petition for Certiorari Related to Transfers Involving Financial Institutions

In proceedings arising out of the Tribune Company chapter 11 bankruptcy and a decision in which the United States Court of Appeals for the Second Circuit sustained the dismissal of…
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In 11th Circuit, Routine Bank Deposits Are Not Transfers Under Florida Uniform Fraudulent Transfer Act

In an appeal arising out of a Ponzi scheme by the principals of two entities, the receiver sought to recover funds from a bank allegedly diverted as fraudulent transfers under…
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U.S. Supreme Court Rules ‘Actual Fraud’ Exception to Discharge Includes Fraudulent Transfer Schemes

In an Alert published on Wednesday, Audrey Noll examines the U.S. Supreme Court’s recent ruling in Husky Int’l Elecs., …
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Opinion in AgFeed USA – Another (Mostly) Successful Motion to Dismiss
On February 19, 2016, Judge Brendan L. Shannon of the Delaware Bankruptcy Court granted in part the motion of K. Ivan F. Gothner (the “Defendant”) to dismiss a complaint filed…
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CPI Corp. Preference Actions Filed
From April 24 to 27, 2015, Charles A. Stanziale, Jr., as the Chapter 7 Trustee of CPI Corp., et al., filed preference complaints seeking to avoid and recover alleged…
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Liquidating Trustee in Midway Games Files Preference Actions
Last year, the Liquidating Trustee (the “Trustee”) in the Midway Games bankruptcy began filing avoidance actions against creditors of the bankruptcy estate. Midway Games (“Midway” or the “Debtor”) filed petitions…
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Trustee In DBSI Bankruptcy Files Adversary Actions
Introduction
Earlier this month, the chapter 11 trustee (the “Trustee”) in the DBSI bankruptcy began filing adversary actions seeking the avoidance and recovery of alleged fraudulent transfers. The Trustee filed…
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What is a Fraudulent Transfer? Decision in Elrod Holdings Explains
Introduction
Section 548 of the United States Bankruptcy Code allows for the avoidance of transfers that are either intentionally or constructively fraudulent. Section 548 provides, in relevant part, as follows:…
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