In re Lary

Pre 2005-Act: 
Pre 2005-Act
Trustee was allowed to avoid a transfer as fraudulent since the debtor had received less than a reasonably equivalent value for the property and became insolvent as a result of the tr ansfer.
Procedural posture: 
Plaintiff chapter 7 trustee brought an adversary proceeding against defendant debtor's sister and her bankruptcy trustee pursuant to 11 U.S.C. § 548(a)(1)(B), seeking to avoid a fraudulent transfer and the return of a one-half undivided interest in real property that the chapter 7 debtor had transferred to the sister. The court held a trial.
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