Setoff Can’t Be Raised as a Defense to Receipt of a Fraudulent Transfer
The Madoff case makes more law: A claim against a bankrupt estate can’t be set off against liability for receipt of a fraudulent transfer because one arose before bankruptcy and the other arose after.
Real Property Potpourri
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It’s Ok to Avoid a Fraudulent Transfer Even if It Makes the Debtor Solvent, Circuit Says
The Second Circuit found discretion to avoid a constructively fraudulent transfer of exempt property that would have enabled the debtor to pay her creditors in full.
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