Can a preference action be used in a fraudulent transfer?
Preference actions under 11 U.S.C. § 547 and fraudulent transfer actions under 11 U.S.C. § 548 or § 544(b) are among the many weapons available to a bankruptcy estate to set aside prepetition transactions for the benefit of creditors. The two are often used together, and the same transaction may be subject to attack under both theories.
Are there any cases of a fraudulent transfer?
The section operates only against fraudulent transfers. There might arise a case where the transfer is done for two considerations one of which is for fraudulent intention, which is separable from each other then, the whole transaction would not be regarded as fraudulent.
How are fraudulent transfer actions different from creditor derivative suits?
In contrast to creditor-derivative suits, fraudulent transfer actions are asserted against transferees—the entities and individuals that received assets from an insolvent debtor.
Can a bankruptcy estate avoid preferences and fraudulent transfers?
The right of the bankruptcy estate to avoid preferences and fraudulent transfers is fundamental to insolvency policy, and the provision for such avoidance in a foreign nation’s insolvency laws is a critical factor for a bankruptcy court to consider in deciding whether to grant ancillary relief in aid of a foreign proceeding.
Preference actions under 11 U.S.C. § 547 and fraudulent transfer actions under 11 U.S.C. § 548 or § 544(b) are among the many weapons available to a bankruptcy estate to set aside prepetition transactions for the benefit of creditors. The two are often used together, and the same transaction may be subject to attack under both theories.
What to do if you are served with a fraudulent lawsuit?
If you have been sued and served with a complaint, which is completely fraudulent, Florida Judges have the authority, under Florida Rule of Civil Procedure 1.150, to strike the complaint right from the beginning. Please remember that if you have been served with a complaint, you should immediately contact an attorney.
Can a person be sued in a frivolous case?
You are not the first person to be frivolously sued. Judges, attorneys, and the court system are well aware that people will try to abuse the court system, and there are built-in safeguards that can dispose of such cases relatively quickly.
Can a person be sued for fraudulent misrepresentation?
If several persons made fraudulent statements to the plaintiff, or if they assisted in creating the false misrepresentation, then it is possible that they can also be named in the legal claim and sued for remedies and damages. Find My Lawyer Now! What are the Defenses for Fraudulent Misrepresentation?