§ 548(a)

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

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

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