- 11 U.S.C.
Wagner v. Ultima Homes Inc. (In re Vaughan Co.)
May
24
2013
Ruling
Trustee was not barred by ERISA from recovering fraudulent transfers to plan.
Procedural posture
Chapter 11 trustee filed an adversary action seeking to recover payments made by the debtor to defendants, parties who invested in the debtor's promissory note program, which the trustee alleged was a Ponzi scheme. The trustee sought recovery under 11 U.S.C.S. §§ 544 and 548 and New Mexico's version of the Uniform Fraudulent Transfer Act (UFTA). Defendants filed a motion for summary judgment.
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Court
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