Paloioan v. Lasalle Bank
Aug
27
2010
Ruling
Denial of recovery of alleged fraudulent transfer vacated and remanded for redetermination of debtor's insolvency.
Procedural posture
The District Court for the Northern District of Illinois, Eastern Division, affirmed a bankruptcy court's finding that a debtor hospital was insolvent by 1997 but that plaintiff bankruptcy trustee could not recover, as fraudulent conveyances, payments made to defendant investment pool trustee (IPT) because the IPT was paid by the debtor's accounts receivable factor. Both sides appealed.
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Court
:
Judge or Jurisdiction information not available