§ 548(a)

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

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

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