§ 548(a)

Crum v. Greek Orthodox Church of Corvallis (In re Martushev)

Plaintiff Chapter 7 trustee filed an adversary proceeding against defendants, a church and two debtors, seeking a determination that a transfer of real property the debtors made to the church before they declared Chapter 7 bankruptcy was avoidable under 11 U.S.C.S. § 548(a), and an order canceling a quitclaim deed the debtors gave the church and quieting title to the property. The trustee filed a motion for summary judgment on her claims.
Ruling: 
Transfer of property to church for no consideration shortly before petition date was avoidable.
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Consumer case opionion summary, case decided on December 17,2010, LexisNexis #0111-128

Stettin v. Adler (In re Rosenfeldt)

Plaintiff Chapter 11 trustee filed an adversary proceeding against defendants, a husband and wife, seeking a determination that payments defendants received from a law firm that declared Chapter 11 bankruptcy were avoidable under 11 U.S.C.S. § 548(a)(1)(A) and Fla. Stat. § 726.105(1)(A). The trustee filed a motion for summary judgment on Counts I and III of his amended complaint, and defendants filed a cross-motion for summary judgment.
Ruling: 
Admissions by debtor's principal established that payments to transferees were made in furtherance of Ponzi scheme and were avoidable.
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Consumer case opionion summary, case decided on December 14,2010, LexisNexis #0111-091

Kendall v. Able Debt Settlement Inc. (In re Kendall)

Plaintiff Chapter 7 trustee filed an adversary complaint against defendant debt settlement company in which it sought to recover service fees paid by the debtors on the ground that the fees were fraudulent transfers under 11 U.S.C.S. § 548(a)(1)(B). The United States Bankruptcy Court for the District of North Dakota entered judgment in favor of defendant. Plaintiff appealed.
Ruling: 
Bankruptcy court did not err in denying avoidance of service fees for debt adjustment as fraudulent transfers.
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Consumer case opionion summary, case decided on December 09,2010, LexisNexis #0111-021

Kenton v. Fast Cash Realty (In re Kenton)

In a Chapter 13 bankruptcy case, the debtor sought to void three mortgages granted to defendants, a real estate company, the company's owner, and one individual, as fraudulent under 11 U.S.C.S. § 548(a)(1)(B). The agreement of sale was entered into on February 3, 2007, and the debtor filed for bankruptcy on December 1, 2009, a month before the last sale agreement extension was set to expire.
Ruling: 
Mortgage granted while debtor was insolvent for which debtor did not receive equivalent value could be avoided.
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Consumer case opionion summary, case decided on November 17,2010, LexisNexis #1210-053

McHale v. Boulder Capital LLC (In re 1031 Tax Group LLC)

In two earlier opinions, partial summary judgment was awarded in favor of plaintiff, a Chapter 11 trustee of a liquidating trust, in an 11 U.S.C.S. § 548(a) fraudulent transfer action against defendants. The court addressed the calculation of prejudgment interest on the amounts recoverable. Both parties agreed that the trustee was entitled to interest accruing from the commencement date of the adversary proceeding, but disagreed on the rate.
Ruling: 
Trustee entitled to prejudgment interest at prime rate and postjudgment interest at federal judgment rate on fraudulent transfer judgment.
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Commercial case opionion summary, case decided on November 01,2010, LexisNexis #1110-130

Ackerman v. Alesius (In re Alesius)

Bankruptcy trustee brought an adversary proceeding against a bankruptcy debtor and the debtor's spouse, seeking to avoid as fraudulent, under 11 U.S.C.S. § 548(a) and state law, transfers of money to the spouse or on the spouse's behalf from the debtor, and a transfer of a boat from the debtor to the spouse three years before the debtor's bankruptcy.
Ruling: 
Money transfers by debtor to spouse for mortgage and household expenses were not avoidable.
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Consumer case opionion summary, case decided on November 01,2010, LexisNexis #1210-092

Elder v. Greer (In re Sand Hill Capital Partners III LLC)

Chapter 7 trustee brought adversary proceedings against a number of defendants, alleged to be transferees. The Trustee alleged, among a number of other matters, intentional and constructively fraudulent transfers under the California Uniform Fraudulent Transfer Act (UFTA). Before the court was defendants' Fed. R. Civ. P. 12(b)(6) motion to dismiss.
Ruling: 
Motion to dismiss fraudulent transfer claims granted with leave to amend all but claim that was time barred.
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Commercial case opionion summary, case decided on October 25,2010, LexisNexis #1210-022

McHale v. Boulder Capital LLC (In re 1031 Tax Group LLC)

The chapter 11 trustee brought an adversary complaint against defendant lenders to avoid loan payments made to the lenders by the former chief executive officer (CEO) of the debtors and his affiliates, as fraudulent transfers under 11 U.S.C.S. § 548(a). The trustee moved for seeks partial summary judgment. He alleged that approximately $29 million was misappropriated from the debtors and fraudulently conveyed to the lenders.
Ruling: 
Transfers made by debtors' CEO with intent to defraud were avoidable.
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Commercial case opionion summary, case decided on August 27,2010, LexisNexis #0910-089

Togut v. RBC Dain Correspondent Servs. (In re S.W. Bach & Co.)

Plaintiff, chapter 7 Trustee of debtor, a former broker-dealer, sought partial summary judgment under Fed. R. Civ. P. 56, made applicable by Fed. R. Bankr. P. 7056, against defendant, a broker-dealer (hereafter, the "broker-dealer"), on the Trustee's constructive fraudulent transfer claim under 11 U.S.C.S. § 548(a)(1)(B) (Count Nine). The broker-dealer in turn sought denial of partial summary judgment and a dismissal of Count Nine.
Ruling: 
Transfer by debtor's clearing agent of customer accounts to broker-dealer without consideration was a "transfer of an interest of the debtor in property" and a constructive fraudulent conveyance.
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Commercial case opionion summary, case decided on August 18,2010, LexisNexis #0910-055

Steed v. Morgan (In re Rivas)

Pursuant to 11 U.S.C.S. §§ 548, 549, and 550, plaintiff trustee filed a complaint seeking the avoidance and recovery of alleged fraudulent transfers and an unauthorized postpetition transfer made by the debtor to defendant, the woman with whom the debtor was romantically involved (girlfriend).
Ruling: 
Ponzi scheme operator's transfers to girlfriend within two years of petition date avoided as intended to defraud creditors.
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Commercial case opionion summary, case decided on June 03,2010, LexisNexis #0810-057

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