An expectancy interest in a trust isn’t “property” to underlay a fraudulent transfer suit.
Before paying up front for a lifetime club membership, read the fine print and consult a lawyer.
North Carolina Judge disagrees with the Fifth Circuit on extending the statute of limitations to 10 years under Section 544(b)(1).
Proceeds from fraudulently transferred property can be recovered from subsequent transferees, Judge Rodriguez says, differing with the Tenth Circuit’s Generation Resources opinion.
Disclosing a lawsuit in the SOFA and discussing the suit with the trustee is no substitute for listing the suit among a debtor’s assets, the Ninth Circuit BAP says.
Even if the two-year statute of limitations for avoidance actions has run, the trustee can still strip away the lender’s secured status in a claim objection.