Houston Judge Rejects Tenth Circuit Opinion Immunizing Subsequent Transferees
Proceeds from fraudulently transferred property can be recovered from subsequent transferees, Judge Rodriguez says, differing with the Tenth Circuit’s Generation Resources opinion.
Second Circuit Upholds the Madoff Trustee’s Calculation of Fraudulent Transfer Claims
Fictitious profits in account statements don’t represent ‘value’ and give rise to a defense for receipt of a fraudulent transfer with ‘actual intent,’ the Second Circuit rules.
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Fraudulent Transfer Law Doesn’t Victimize Innocent Parties, Judge Wiles Says
Ownership of a bank account isn’t enough by itself to make the account holder the initial transferee of a fraudulent transfer.
‘No Harm, No Foul’ Doesn’t Entitle a Debtor to a Discharge, BAP Says
Advice-of-counsel defense doesn’t work when intent is clearly fraudulent.
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