§ 548(a)

Osherow v. Nelson Hensley & Consol. Fund Mgmt. LLC (In re Pace)

Plaintiff Chapter 7 trustee filed a complaint against defendants, a limited liability company (LLC) and its owner, to avoid a transfer of a property (the condo) from a debtor's wholly-owned company to the LLC and to recover the condo or its value. The trustee alleged that the transfer was actually fraudulent under the Texas Uniform Fraudulent Transfer Act (TUFTA) or constructively fraudulent transfer under the TUFTA and 11 U.S.C.S. § 548(a)(2).
Ruling: 
Transfer that was fraudulent under state law could be avoided.
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Consumer case opionion summary, case decided on May 16,2011, LexisNexis #0611-059

Roeder v. Lockwood (In re Lockwood Auto Group Inc.)

Plaintiff Chapter 7 trustee filed an adversary proceeding against defendants, a bank and an individual who had been the principal owner of a car dealership, seeking a determination that the principal committed fraud before the dealership declared bankruptcy. The bankruptcy court found that transactions the principal made were constructively fraudulent under 11 U.S.C.S. § 548(a)(1)(B), but the district reversed that judgment and remanded the case.
Ruling: 
On remand, debtor's principal's pledge of CD collateral for bank loan found not to be fraudulent.
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Commercial case opionion summary, case decided on April 28,2011, LexisNexis #0511-140

Mann v. Steele (In re Steele)

Plaintiff Chapter 7 trustee commenced an adversary proceeding against defendants, the debtor and the church that he founded, seeking recovery of a transfer pursuant to 11 U.S.C.S. §§ 547, 548(a)(1)(A)-(B), and 550(a)(1). The trustee also sought to revoke the debtor's discharge pursuant to 11 U.S.C.S. § 727(d)(1) and § 727(d)(2).
Ruling: 
Trustee could recover more than fair share of proceeds retained by church from sale of vehicle co-owned with debtor pastor as a constructively fraudulent transfer.
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Consumer case opionion summary, case decided on March 31,2011, LexisNexis #0511-123

Crews v. Full of Faith Ministries Inc. (In re Full of Faith Ministries Inc.)

Chapter 7 trustee filed an adversary complaint to avoid and recover fraudulent transfers of real property pursuant to 11 U.S.C.S. § 548(a)(1). The trustee alleged that the debtor corporation transferred three parcels of real property to its insiders within two years before the filing of the bankruptcy case.
Ruling: 
Transfers to insiders while litigation was pending were fraudulent and avoidable.
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Commercial case opionion summary, case decided on March 31,2011, LexisNexis #0711-020

Lyon v. Baker (In re ClassicStar LLC)

Chapter 7 trustee filed an adversary proceeding against defendant investor, seeking a determination that a transfer an LLC made to a bank to pay a debt the investor owed was constructively fraudulent under 11 U.S.C.S. § 548(a)(1)(B) and could be recovered from the investor under 11 U.S.C.S. § 550(a). The case was tried to the court.
Ruling: 
Transfer by debtor to bank was constructively fraudulent and could be avoided.
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Commercial case opionion summary, case decided on March 14,2011, LexisNexis #0411-091

Lyon v. Rappaport (In re ClassicStar LLC)

Chapter 7 trustee filed an adversary proceeding against appellee investor, who had entered into a mare leasing agreement with the debtor. The U. S. Bankruptcy Court for the Eastern District of Kentucky dismissed the proceeding with prejudice. The trustee appealed.
Ruling: 
Dismissal for failure to state a claim of actual fraudulent transfer affirmed.
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Commercial case opionion summary, case decided on February 24,2011, LexisNexis #0311-088

Lowe v. Kaspar-Wells (In re Wells)

Plaintiff Chapter 7 Trustee filed a complaint pursuant to 11 U.S.C.S. § 548(a)(1) to avoid and recover a constructively fraudulent transfer of an interest in real property.
Ruling: 
Transfer of debtor's interest in real property to trust for no value could be avoided.
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Consumer case opionion summary, case decided on February 10,2011, LexisNexis #0311-058

Youngman v. YA Global Invs. L.P. (In re Headliners Entertainment Group Inc.)

Chapter 7 trustee sought to recover payments made to defendants, an investment company and a related financial advisory company, as fraudulent transfer actions under 11 U.S.C.S. § 548(a)(1)(B). The Trustee objected to defendants' introduction of testimony supplementing the promissory note agreements at issue on the grounds that such testimony was barred by the parol evidence rule.
Ruling: 
Payments to financial advisory company were not fraudulent transfers because the debtor received reasonably equivalent value.
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Commercial case opionion summary, case decided on February 09,2011, LexisNexis #0311-089

Weir v. Chadwick (In re Chadwick)

Creditors brought an adversary proceeding against defendant bankruptcy debtor alleging that the debtor's transfer of an interest in the debtor's residence as a tenant by the entirety to a family limited partnership was actually and constructively fraudulent under Tenn. Code Ann. § 66-3- 305(a), and thus the transfer was avoidable.
Ruling: 
Debtor's transfer of assets to family limited partnership was constructively fraudulent.
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Consumer case opionion summary, case decided on February 07,2011, LexisNexis #0311-022

Martinez v. Hutton (In re Harwell)

Appellant Chapter 7 trustee filed a fraudulent transfer complaint against appellant attorney under 11 U.S.C.S. §§ 548(a)(1)(A) and 550(a)(1). A bankruptcy court granted summary judgment for the attorney, and the United States District Court for the Middle District of Florida affirmed. The trustee appealed.
Ruling: 
Summary judgment in favor of attorney transferee reversed absent findings regarding control of funds or bad faith.
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Consumer case opionion summary, case decided on December 29,2010, LexisNexis #0111-105

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