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Angell v. Open Grounds Farm Inc. (In re Tanglewood Farms Inc.)

Angell v. Open Grounds Farm Inc. (In re Tanglewood Farms Inc.)

Ruling
Wire transfer from account of debtor's 100 percent shareholder and president was avoidable as fraudulent.
Issue(s)
Were prepetition transfers from account of debtor's 100 percent shareholder and president, made to satisfy the obligation of a non-debtor entity, avoidable as fraudulent?

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Commercial opinion summary, case decided on June 05, 2014 , LexisNexis #0714-129