Fraudulent Conveyance

Court Pillars
Copyright: bbourdages / 123RF Stock Photo

In an Alert published on Wednesday, Audrey Noll examines the U.S. Supreme Court’s recent ruling in Husky Int’l Elecs., Inc. v. Ritz:

Last month, the U.S. Supreme Court held that the “actual fraud” bar to discharge debts under Bankruptcy Code section 523(a)(2)(A) includes

Last month, Jeoffrey Burtch, the Chapter 7 Trustee (the “Trustee”) in the Opus East bankruptcy filed approximately 90 preference actions against various defendants.  As stated in his complaints, the Trustee “seeks to avoid and recover … all preferential transfers of property made for or on account of an antecedent debt made to or for the

Introduction

In July of this year, Ascendia Brands, Inc., began filing preference actions against various defendants who allegedly received payments from Ascendia.  According to the complaints, the defendants, many of whom were former customers of the company, received “avoidable” payments either before or after Ascendia filed for bankruptcy.  Citing various provisions of the Bankruptcy Code,

Introduction

Earlier this month,  the Official Committee of Unsecured Creditors (the “Committee”) for American Home Mortgage (“AMH”) filed over ninety (90) adversary actions (review one of the Committee’s Complaints here).  As reflected in the Complaint,  the Committee alleges that various creditors of AMH received preferential and/or fraudulent transfers pursuant to 11 U.S.C. sections 547, 548,