On Bankruptcy and Mediation
Little-known and rarely-used? (Photo by Marilyn Swanson) By: Donald L Swanson Preference avoidance provisions are a crucial part of the Bankruptcy Code—contained, primarily, in § 547 & § 550. States also have a preference avoidance statute—for insiders. It’s in the Uniform Voidable Transactions Act (“UVTA)” or in its predecessor, the Uniform Fraudulent Transfer Act (“UFTA)). The... Continue Reading →
There’s no place like home (photo by Marilyn Swanson) By: Donald L Swanson Debtor files Chapter 7 in the Eastern New York Bankruptcy Court. The Chapter 7 Trustee sues Defendant in that same Bankruptcy Court to recover an $11,408.55 preference. Defendant resides in California, not New York, and is not an insider. So, Defendant contends that... Continue Reading →
Must prepare to perform (photo by Marilyn Swanson) By: Donald L Swanson (b) . . . the trustee may, based on reasonable due diligence in the circumstances of the case and taking into account a party’s known or reasonably knowable affirmative defenses under subsection (c), avoid any transfer of an interest of the debtor in property—... Continue Reading →
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