Fraudulent transfers

Bankruptcy Court Has Jurisdiction To Enter Final Judgment On Fraudulent Transfer Claims; Judge Sacca Follows Narrow View Of Stern v. Marshall

06/16/13

In a 28 page opinion, Judge Sacca of the Northern District of Georgia held that Bankruptcy Courts have jurisdiction to enter final orders in some cases involving fraudulent transfer claims. Mitchell v. Banks, Adv. Proc. No. 12-0562, 2013 Bankr. LEXIS 2384 (Bankr. N.D. Ga.

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Transferee of Fraudulent Transfer From Ponzi Scheme

05/30/13

People who receive distributions of money from Ponzi schemes usually are expected to return the money to a trustee who takes over the operation when the Ponzi organizer files bankruptcy. The trustee usually attempts to “claw back” money distributed to the investors, especially money representing winnings or profits. This recent Florida bankruptcy case produced a slightly different result for a Ponzi investor.

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Funding IRA Prior To Bankruptcy is Not Fraudulent Conversion, Says Court

10/19/12

Within two weeks of filing Chapter 7 bankruptcy these debtors took $12,000 of non-exempt cash from an insurance policy and used the money to fund exempt IRAs.

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Are Investor’s Ponzi Scheme Profits Recoverable As Fraudulent Transfer Proceeds?

10/03/12

One of the defenses to a fraudulent transfer action is that the debtor’s transfer in question was for “reasonably equivalent value.” The general rule is that a transfer to repay a loan is a transfer for value because the transferor receives a deduction in the principal and interest owed on the debt.

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Forbes Article Discusses Risk Of Chapter 7 Bankruptcy By Wealthy

08/31/12

I read an article in Forbes online which discusses a bankruptcy case that set aside several fraudulent transfers. The case illustrates why debtors with asset should avoid filing bankruptcy.

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Does Pre-Bankruptcy Planning Permit Transfer Of Car Title To Spouse

07/23/12

Bankruptcy debtors use their $4,000 wildcard exemptions most often to protect cars. The debtor can apply the wildcard only to cars in the debtor's name. For example, if a married couple is considering Chapter 7 bankruptcy and both of the couple's cars are titled in the husband's name the wife cannot apply her $4,000 wildcard exemption to either of the cars because she owns no car.

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Bankruptcy Fraud: Don't Cross that Line!

04/15/11

bankruptcy fraudThe Associated Press reports that former baseball star Lenny &

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