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

Ruling: 
Transfers made by debtors' CEO with intent to defraud were avoidable.
Procedural posture: 
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.
Issue: 
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Commercial case opionion summary, case decided on August 27,2010, LexisNexis #0910-089