![]() (11) The debtor transferred the essential assets of the business to a lienor who transferred the assets to an insider of the debtor. (10) The transfer occurred shortly before or shortly after a substantial debt was incurred and (9) The debtor was insolvent or became insolvent shortly after the transfer was made or the obligation was incurred (8) The value of the consideration received by the debtor was reasonably equivalent to the value of the asset transferred or the amount of the obligation incurred (7) The debtor removed or concealed assets (5) The transfer was of substantially all the debtor's assets (4) Before the transfer was made or obligation was incurred, the debtor had been sued or threatened with suit (3) The transfer or obligation was disclosed or concealed (2) The debtor retained possession or control of the property transferred after the transfer Its history dates from the statute of 13 Eliz. (1) The transfer or obligation was to an insider It permits the trustee to avoid transfers by the debtor in fraud of his creditors. (b) In determining actual intent under paragraph (1) of subsection (a) of this Code section, consideration may be given, among other factors, to whether: (a) In an action for relief against a transfer or obligation under this chapter, a creditor, subject to the limitations in Section 24. (a) Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor's business to furnish support to the debtor or another person. (a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditors. Under the NYUVTA, a creditor has only four years to bring a claim to avoid a constructive transfer. Other Laws Relating to Commerce and Trade. Under current law, a creditor has six years to commence a constructive fraudulent conveyance action. 6 The rule is the same whether the transferor is a. (B) Intended to incur, or believed or reasonably should have believed that he or she would incur, debts beyond his or her ability to pay as they became due. The NYUVTA materially changes the statute of limitations for a creditor to bring an action. 5 The statute of limitations as to such a remedy is ten years measured from the date of the transfer. ![]() (A) Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction or (2) Without receiving a reasonably equivalent value in exchange for the transfer or obligation, and the debtor: (1) With actual intent to hinder, delay, or defraud any creditor of the debtor or (a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor's claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation: Fraudulent transfer determination of actual intent § 18-2-74 - Fraudulent transfer determination of actual intentġ8-2-74. View our newest version here 2010 Georgia CodeĬHAPTER 2 - DEBTOR AND CREDITOR RELATIONS Both types of fraudulent transfers involve a two-year look back period and a two-year statute of limitations.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |