Field v. Estate of Kepoikai (In re Maui Indus. Loan & Fin. Co.)

Ruling: 
Transfers by debtor Ponzi scheme operator to trust, and from trust to successor trustee and beneficiaries could be avoided.
Procedural posture: 
Chapter 7 trustee filed a complaint against transferees seeking to recover money transferred to the defendants. The trustee sought partial summary judgment on his claims that the transfers to defendants were fraudulent under 11 U.S.C.S. § 544(b)(1) and the Hawaii Uniform Fraudulent Transfer Act, Haw. Rev. Stat. § 651C-4(a) (2009). The trustee further contended that defendants were liable under 11 U.S.C.S. § 550(a)(1).
Issue: 
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Commercial case opionion summary, case decided on July 30,2012, LexisNexis #0812-087