Commercial Fraud Committee

Committees

Post date: Wednesday, August 26, 2020
Photo of Thomas H. Curran
Thomas H. Curran

Where chapter 7 Trustees are now increasingly faced with the prospect of avoiding and recovering fraudulent transfers of a debtor’s pre-petition assets that implicate the concepts of extraterritoriality and foreign law, choosing the “right” foreign “applicable law” under Code section 544 causes of action, becomes increasingly important.

Post date: Wednesday, August 26, 2020
Photo of Christian A. Pereyda
Christian A. Pereyda

In a factually complex and quickly criticized opinion,[1] a panel of the Tenth Circuit recently held that a chapter 7 trustee cannot maintain a fraudulent transfer action against subsequent transferees of a fraudulent transfer if the subsequent transferee receives only proceeds of the “property that was set aside as fraudulently transf

Post date: Monday, June 15, 2020

Bankruptcy Code § 548 allows creditors and trustees to avoid transactions that unfairly or improperly deplete the bankruptcy estate.[1] Transfers made within two years[2] preceding a bankruptcy filing can be clawed back if either (1) the debtor attempted to defraud creditors,

Post date: Monday, June 15, 2020
Photo of Ashley Gould
Ashley Gould

The COVID-19 crisis has made a substantial economic impact on businesses and industries worldwide. The sharp decrease in airline travel has caused the aviation industry to be particularly affected by the crisis. This has caused a detrimental economic effect on airlines, suppliers, manufacturers and other aviation companies.

Post date: Monday, June 15, 2020

Courts are divided as to whether rule 9(b)’s heightened pleading standard applies to fraudulent-transfer claims. Normally, a complaint under the federal rules must only contain “a short and plain statement of the claim showing that the pleader is entitled to relief….”[1] But sometimes, stricter standards apply.

Post date: Monday, June 15, 2020

If you can look into the seeds of time,
And say which grain will grow and which will not,
Speak then unto me, who neither beg nor fear
Your favors nor your hate.
—William Shakespeare
Macbeth, Act I, Scene 3

Post date: Monday, June 15, 2020
Photo of Ingrid Warrner
Ingrid Warrner

A common exception to the discharge of a debt is that the debtor obtained credit by use of a false financial statement.[1] The Fifth Circuit recently examined this exception and provided important insight into what it means for a creditor to reasonably rely on a debtor’s statement as required by § 523(a)(2)(B).

Post date: Thursday, December 19, 2019

It has been a productive year for the Commercial Fraud Committee. Our committee published two newsletters, containing six articles, and a third newsletter is currently in the works. A webinar is also planned for 2020. Here are a few highlights of our committee’s activities in 2019, as well as our upcoming plans for the new year:

Post date: Monday, November 25, 2019

As a Certified Public Accountant (CPA) who began his career as an auditor, I thought at the time that I stepped into the world of financial forensics I was prepared to embark on a career as a financial fraud auditor and expert. After all, numbers are numbers; they don’t lie or misrepresent themselves. Or so I thought.

Post date: Monday, November 25, 2019

Texas, like nearly every other state, has adopted its own version of the Uniform Fraudulent Transfer Act (UFTA).[1] The UFTA is aimed at preventing “debtors from transferring their property in bad faith before creditors can reach it.”[2] To that end, the Texas UFTA (TUFTA) ren

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Tue, 2016-05-31

The Commission recommended that section 550 be amended to permit the trustee to name an alleged subsequent transferee as a defendant in the original complaint to avoid any transfer under Bankruptcy Code sections 544, 545, 547, 548, 549, or 553(b), and to recover such property under section 550, rather than filing an avoidance action prior to filing a recovery action, as the Code currently requires.

Fri, 2016-04-15

People and Assets on the Move Overseas: What You Need to Know to Hold Everything Still and Seize the Assets

Tue, 2016-01-19

The Chapter 11 Commission Report recommended that the burden of proof for appointing a Chapter 11 Trustee under 1104(a) be changed from clear and convincing evidence to a preponderance of the evidence. The Commissioners determined that the existing more stringent standard has a chilling effect on parties-in-interest seeking the appointment of a Trustee, that the benefits of having a Trustee in appropriate cases outweigh the risks of abuse and unnecessary distractions that a lower standard could bring, and that adopting a preponderance of the evidence standard would resolve a split among the courts on this issue.

Thu, 2015-11-12

During this call, Geoffrey L. Berman discussed the ABI’s Commission Report to Study the Reform of Chapter 11, particularly its recommendations related to In Pari Delicto. In addition, the committee’s leadership discussed the various projects and presentations the committee is working on in the coming months.

Sat, 2015-04-18

Advanced Defenses to Avoidance Actions: Understanding Them Can Make All The Difference

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Mr. Nathaniel J. Palmer
Co-Chair
Reid Collins & Tsai LLP
Austin, TX
(512) 647-6107

Mr. Christian A. Pereyda
Co-Chair
Maynard Nexsen PC
Birmingham, AL
(205) 254-1854

Wes Bulgarella
Communications Manager
Maynard Nexsen PC
Birmingham, AL
(205) 254-1875

Ms. Alyson M. Fiedler, Esq.
Education Director
Ice Miller LLC
New York, NY
(212) 835-6315

Mr. Simon Dickson
Membership Relations Director
Mourant Ozannes
Camana Bay,


Ms. Julia Di Fiore
Newsletter Editor
Reid Collins & Tsai LLP
Austin, TX
(512) 647-6132

Mr. Aaron M. Kaufman
Special Projects Leader
Gray Reed LLP
Dallas, TX
(469) 320-6050

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