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Voidable Transactions

 - previously known as -

Fraudulent Transfers

 

Caution state law variances!

Available 2021

This page contains various resources which may be helpful in understanding the Uniform Voidable Transactions Act and its predecessors generally, and particular issues more specifically.

Kenneth C. Kettering (UVTA Official Reporter)

  • Kettering, Kenneth C., Codifying a Choice of Law Rule for Fraudulent Transfer: A Memorandum to the Uniform Law Commission (July 1, 2011). American Bankruptcy Institute Law Review, Vol. 19, pp. 319-359, 2011. Available at SSRN: https://ssrn.com/abstract=1920512

 

  • Kettering, Kenneth C., The Uniform Voidable Transactions Act; or, the 2014 Amendments to the Uniform Fraudulent Transfer Act (November 27, 2014). Business Lawyer, Vol. 70, pp. 777-834, 2015. Available at SSRN: https://ssrn.com/abstract=2541949 or http://dx.doi.org/10.2139/ssrn.2541949

 

  • Kettering, Kenneth C., Securitization and Its Discontents: The Dynamics of Financial Product Development (August 1, 2007). Cardozo Law Review, Vol. 29, pp. 1553-1728, 2008. Available at SSRN: https://ssrn.com/abstract=1012937

 

{Forbes.com Articles}

 

  • 2019.10.29 ... Repeal Of Kentucky’s Fraudulent Transfer Law In Favor Of UVTA Causes Headaches In Orchard
  • 2019.10.19 ... Texas Homestead Gets Constitutional Protection From Fraudulent Transfer Claim In Lapides
  • 2019.09.13 ... The Sackler Family And Fraudulent Transfers
  • 2019.08.21 ... Of Jeffrey Epstein And The Assets He Placed Into Trust Two Days Before His Death
  • 2019.07.27 ... Cortez Rule For California Uniform Voidable Transactions Act Reaffirmed In Potter
  • 2019.07.08 ... Fraudulent Transfers And The Statute of 13 Elizabeth Translated To Contemporary Legal English
  • 2019.05.30 ... Understanding The Elements Of The UVTA Tests For A Voidable Transaction
  • 2019.05.20 ... Good Faith Not Enough For Transferee To Establish Fraudulent Transfer Defense In Hawk
  • 2019.01.30 ... Resignation Of Corporate Officer Not A Fraudulent Transfer In Texas Opinion
  • 2019.02.12 ... Why The Mere Incorporation Or Formation Process For A New Entity Is Not A Fraudulent Transfer
  • 2019.02.22 ... California Court Of Appeals Swings And Misses On Pre-Marital Fraudulent Transfer Agreement In Sturm
  • 2019.03.31 ... Voidability Of Sham Lawsuit And Judgment At Issue In Chen
  • 2018.10.28 ... Advising About Or Assisting With A Fraudulent Transfer Is About To Get Very Dangerous In California
  • 2018.08.24 ... Undocumented Loans Easy Fodder For Florida Fraudulent Transfer Claim In Kaplan
  • 2018.08.13 ... Late-Arriving Member To LLC Results In Fraudulent Transfer Finding And Punitive Damages In Lacava
  • 2018.04.22 ... State And Federal Fraudulent Transfer Law Diverge Over Exempt Property In Vorhes
  • 2017.12.18 ... Revocation Of A Company's S-Election By Shareholders Not Deemed A Voidable Transaction In Arrowsmith
  • 2017.12.07 ... 'I Only Gave It To My Spouse In Case I Got Sued' Defense Flops Once Again In Soley Case
  • 2017.08.20 ... One Year Discovery Rule For Fraudulent Transfers Tested In PNC Bank Case
  • 2017.05.30 ... The Good Faith Transferee Defined In Nautilus
  • 2017.03.15 ... The UVTA Baedeker: Introduction To The UVTA
  • 2017.03.18 ... The UVTA Baedeker: The Language Of The UVTA
  • 2017.03.25 ... The UVTA Baedeker: Is The Transaction Voidable?
  • 2017.04.01 ... The UVTA Baedeker: Can The Transferee Assert A Defense?
  • 2017.04.08 ... The UVTA Baedeker: What Remedies Are Available To The Creditor?
  • 2017.04.09 ... The UVTA Baedeker: Sundry Other Points Of Interest
  • 2017.01.18 ... Fraudulent Transfer Law Trumps Tenancy By The Entireties In Knoll
  • 2016.9.30 ... The Silver Lining In The IRS's Proposed Rule Changes For Valuation Discounts
  • 2016.9.10 ... The 10-Year Lookback for Tax Liability Overrides State Fraudulent Transfer Law In Kipnis
  • 2016.8.22 … Sacred Heart University Dodges Fraudulent Transfer Claim For Tuition Paid In Palladino0
  • 2016.8.14 … Fraudulent Transfers Into An ERISA Plan Can Be Unwound Despite The ERISA Protections
  • 2016.7.30 … Fraudulent Transfer Defeats Tenancy By The Entireties Protection Of Sarasota Home In Major
  • 2016.7.29 … Blixseth Loses On Marital Settlement Agreement and Fraudulent Transfers
  • 2016.5.21 … Actual Fraud Includes Fraudulent Transfers In Bankruptcy Says Sotomayor
  • 2016.4.7 … The Golf Channel Gets The Answer It Wants From The Texas Supreme Court
  • 2016.3.25 … Estate Planners: Worry Not About The Uniform Voidable Transactions Act
  • 2016.1.30 … Fraudulent Transfers In Hypnotic Taxi
  • 2015.11.27 ... Silver Bars and Fraudulent Transfers in Rego Group
  • 2015.11.22 ... U.S. Jurisdictions That Criminalize Fraudulent Transfers
  • 2015.11.16 ... Attorney's Fees Deemed To Constitute Reasonably Equivalent Value In Magnum Steel
  • 2015.9.30 ... Minnesota Attorney Suspended For Assisting With A Fraudulent Transfer In Sheehan
  • 2015.8.22 ... Son of BOSS Leads To A Divorce And Fraudulent Transfer Troubles In Baker
  • 2015.7.29 ... Cevdet Aksut -- Fraudulent Transfer Means Civil Conspiracy And Civil RICO Claims Against Law Firm
  • 2015.7.27 ... The Fifth Circuit Declares A Mulligan In The Golf Channel "Innocent Transferee" Case
  • 2015.6.19 ... Kettering Article On The UVTA, er, UFTA-2014, Provides The Definitive Guide To Changes
  • 2015.5.27 ... Kekonas' Punitive Damages Award For Fraudulent Transfers Gets Bigger On Appeal
  • 2015.4.26 ... The Fraudulent Transfer Laws Do Indeed Apply To Future Creditors
  • 2015.4.2 ... Nevada Supreme Court's Fraudulent Transfer Ruling Keeps Innocent Law Firm Out Of The Woods
  • 2015.3.31 ... The Common But False Myth Of The Asset-For-LLC Interest Exchange In Asset Protection Planning
  • 2015.3.17 ... The Fifth Circuit Slices The Golf Channel Into The Pond
  • 2015.3.14 ... Medici Gambles At The Venetian But It Is The Venetian Who Gets Played
  • 2015.1.16 ... Debtor's Pre-Petition Transfers Result In Denial Of Discharge In Drumm
  • 2014.11.18 ... Positive Health Of The Fraudulent Transferee's Good Faith Defense
  • 2014.11.1 ... The Insolvent Debtor - Are Charity And Family Gifts Still Possible?
  • 2014.10.26 ... Living Expenses Of No Utility To Creditors In Schlussel
  • 2014.10.9 ... Dilution Of Corporate Stock As A Fraudulent Transfer In Antonello
  • 2014.8.31 ... The Uniform Voidable Transactions Act – New Section 11 and Series LLCs
  • 2014.7.27 ... The Uniform Voidable Transaction Act And The Shifting Of Burdens
  • 2014.7.22 ... The Uniform Voidable Transactions Act and Conflict of Laws
  • 2014.7.18 ... The Uniform Voidable Transactions Act – What’s With The Name Change?
  • 2014.3.31 ... Iowa Attorney Narrowly Dodges Bar Complaint For Murderer's Fraudulent Transfers
  • 2014.1.22 ... The $867 Dispute Becomes An $883,654 Judgment In Ravet
  • 2014.1.18 ... Attorney's Time Slips Slip Up Post-Judgment Attempts To Defraud Creditors In Frankel
  • 2013.12.19 ... Two Year Suspension For California Attorney Who Engaged In Fraudulent Transfer In Morris
  • 2013.10.30 ... Good Faith Transferees And The Perils Of Third-Party Payers
  • 2013.10.15 ... Hawaiian Fraudulent Transferee Hangs Ten To Punitive Damages
  • 2013.9.23 ... Fraudulent Transfers Trigger Crime-Fraud Exception And $10 Million Punitive Damages In Cutuli
  • 2013.8.30 ... One-Year Vacation From Practice For Attorney Who Fraudulently Transferred Assets
  • 2013.7.2 ... Bankrupt Milwaukee Archdiocese Apparently Caught In Fraudulent Transfer
  • 2013.4.23 ... Fraudulent Transfer Leads To Punitive Damages And Attorney's Fees Equal To Six Times The Amount Of The Underlying Judgment In Renbolt
  • 2013.3.22 ... What The Debtor Received In Return Is Key To Fraudulent Transfer Value Analysis
  • 2013.1.31 ... Existence Of Claim Renders Some Clients Seeking Asset Protection Effectively Dead On Arrival
  • 2013.1.30 ... Interspousal Transfers Without Value To Avoid Personal Guarantee Voided As Fraudulent Transfers In Lilly
  • 2013.1.19 ... Kremen -- Failure To Prove Fraudulent Transfer
  • 2012.12.31 ... Cohen - Lawyer's Transfer Of Wages To Entireties Account Only Partially Protected From Creditor When Fraudulently Transferred
  • 2012.11.29 ... Kilker - Asset Protection Intent In Making Transfers To Protect Against Future Creditors Means Disaster When Creditor Appears
  • 2012.10.31 ... Kenrob Information - The IRS Fights Off Fraudulent Transfer Claim For Debtor S-Corporation's Tax Reimbursements To Shareholders
  • 2012.10.29 ... Elephants and Donkeys Find Unhappiness In Sir Scam-A-Lot's Court
  • 2012.10.20 ... Goldberg - Affidavit of Solvency Allows Asset Protection Attorney To Keep Fees Against Fraudulent Transfer Claim
  • 2012.9.30 ... Pearl -- Transfers to Revocable Trusts Were Not Fraudulent Transfers As To Creditors Of The Settlor
  • 2012.8.29 ... Kendall: Distressed Debtor's Late Transfers Set Aside As Fraudulent Transfers In Bankruptcy
  • 2012.7.31 ... Howrey: When The Sinking Ship Seeks The Cheese Back From The Fleeing Rats
  • 2012.5.8 ... Fraudulent Transfer Leads To Punitive Damages Award In California
  • 2011.12.23 ... Cohen: Temporary Restraining Order Issued Against Those Assisting Debtor With Fraudulent Transfers
  • 2011.10.13 ... The Sad Last Ballad of Jerry Lynn Williams: Divorce Decree Fails To Defeat Fraudulent Transfer Action
  • 2011.9.27 ... Schofield-Johnson: Husband's Failed Attempt To Shield Assets From The IRS By Transferring To Wife Who Transferred To An LLC
  • 2011.9.20 ... Racsko: Bankruptcy Trustee Of Mother Can Invade Her Children's Trust On Fraudulent Transfer Grounds
  • 2011.8.13 ... Dad's Looting Of Corporation By Making Gifts To His Kids Gets Them Caught Up In Fraudulent Transfers

 

 

UVTA AUDIO PRESENTATION

 

Need to become fluent in the UVTA quickly? This four-hour audio program by Jay Adkisson and Dave Slenn, ABA Advisors to the UVTA Drafting Committee, explains key features of the UVTA, how they operate, and why. Hosted by Leimberg Information Services. Click here for more

RECENT ARTICLES ON FRAUDULENT TRANSFERS

 

2019.09.13 ... The Sackler Family And Fraudulent Transfers

2019.08.21 ... Of Jeffrey Epstein And The Assets He Placed Into Trust Two Days Before His Death

2019.07.27 ... Cortez Rule For California Uniform Voidable Transactions Act Reaffirmed In Potter

2019.07.08 ... Fraudulent Transfers And The Statute of 13 Elizabeth Translated To Contemporary Legal English

2019.05.30 ... Understanding The Elements Of The UVTA Tests For A Voidable Transaction

2019.05.20 ... Good Faith Not Enough For Transferee To Establish Fraudulent Transfer Defense In Hawk

2019.03.31 ... Voidability Of Sham Lawsuit And Judgment At Issue In Chen

2019.02.22 ... California Court Of Appeals Swings And Misses On Pre-Marital Fraudulent Transfer Agreement In Sturm

2019.02.12 ... Why The Mere Incorporation Or Formation Process For A New Entity Is Not A Fraudulent Transfer

2019.01.30 ... Resignation Of Corporate Officer Not A Fraudulent Transfer In Texas Opinion

 

Many more articles on voidable transactions law found here

 

UVTA - LOGICAL ORGANIZATION (Designed For Litigators)

 

Click here to go to the Voidable Transactions Decision Chart

 

Overview of UVTA -- The process and result

 

Learn The Vocabulary Of The Act (Main Page)

 

Has A Voidable Transaction Occurred? (Main Page)

 

Does The Transferee Have A Defense? (Main Page)

 

What Remedies Are Available? (Main Page)

 

Other Helpful Provisions (Main Page)

 

UVTA - NUMERICAL ORGANIZATION (Confusing & Difficult To Use)

 

The Uniform Law Commission's complete copy of the UVTA with comments in PDF format is available here. The webpage for the UVTA, showing states that have enacted and much other information regarding the Act is found here.

 

1 - Definitions

(1) Affiliate -- (2) Asset -- (3) Claim -- (4) Creditor -- (5) Debt -- (6) Debtor -- (7) Electronic -- (8) Insider -- (9) Lien -- (10) Organization -- (11) Person -- (12) Property -- (13) Record -- (14) Relative -- (15) Sign -- (16) Transfer -- (17) Valid Lien

2 - Insolvency - How insolvency is calculated

3 - Value - Issues relating to calculating value

4 - Transfer Or Obligation Voidable As To Present Or Future Creditor

(a)(1) {Intent Test} - To hinder, delay or defraud any creditor

(a)(2)(i) {Overextending Insolvency Test} - The debtor engages in a transaction for which it does not have the financial strength

(a)(2)(ii) {Sinking Insolvency Test} - The debtor is not technically insolvent but headed for insolvency

(b) {Badges of Fraud} - Circumstances available to prove the debtor's intent

5 - Transfer or Obligation Voidable As To Present Creditor

(a) {Insolvency Test} - The test preferred by creditors

(b) {Insider Preference Test} - Not really a fraudulent transfer test at all

6 - When Transfer Is Made Or Obligation Is Incurred - Determines the time of the transfer

7 - Remedies Of Creditor

      {Non-Money Judgment Remedies} - Avoidance, attachment, etc.

8 - Defenses, Liability, And Protection Of Transferee Or Obligee

{Main Provisions} -The transferee's good faith for-value defense

(b) and (c) {Money Judgment Remedy} - Alternative remedy for creditors when avoidance is not good enough

9 - Extinguishment Of Claim For Relief - Similar to Statutes of Limitation

10 - Governing Law - Conflicts of Laws provisions

11 - Application To Series Organization - Applies to intra-series transfers

12 - Supplementary Provisions - Allows application of other law to issues unresolved by the UVTA

13 - Uniformity Of Application And Construction - Court opinions from other states may be looked to for guidance

14 - Relation To Electronic Signatures In Global And National Commerce - Waste of statutory space

15 - Short Title - From fraudulent transfers to voidable transactions

16 - Repeals; Conforming Amendment - Information for enacting legislatures

 

OTHER SOURCES OF FRAUDULENT TRANSFER LAW

 

Fraudulent Transfers In Bankruptcy - Main Page

 

28 U.S.C. § 3301, et seq. - Where United States is the creditor

 

Common Law Fraudulent Transfer - Still exists in most states

 

Fraudulent Conveyances Act of 1571 a/k/a Statute of 13 Elizabeth - The medieval statute to which the modern American UVTA traces some of its roots.

 

TOPICAL COURT OPINIONS

 

DEFINITIONS

     Creditor Definition - Court opinions on the definition of creditor

     Debtor Insider Affiliate Relative Organization Person Definitions   - Court opinions on the definitions of debtor, insider, etc.

     Claim And Debt Definitions  - Court opinions on the definitions of claim and debt

     Asset And Property Definitions  - Court opinions on the definitions of assets and property

     Lien And Valid Lien Definitions  - Court opinions on the definitions of lien and valid lien

     Transfer Definition  - Court opinions on the definition of transfer

     Value And Reasonably Equivalent Value (REV) Definition  - Court opinions on the definitions of value and reasonably equivalent value

     Insolvency Definition  - Court opinions on the definition of insolvency

TESTS

     Insolvency Test  - Court opinions relating to the Insolvency Test

     Insider Preference Test  - Court opinions relating to the Insider Preference Test

     Overextending Insolvency Test  - Court opinions relating to the Overextending Insolvency Test

     Sinking Insolvency Test  - Court opinions relating to the Sinking Insolvency Test

     Intent Test  - Court opinions relating to the Intent Test

           Badges Of Fraud  - Court opinions relating to the Badges of Fraud

DEFENSES

     Extinguishment Periods a/k/a (incorrectly) Statute Of Limitations  - Court opinions relating to the extinguishment periods

     Transferee Good Faith  - Court opinions relating to the transferee good faith for-value defense

REMEDIES

     Non-Money Remedies  - Court opinions relating to avoidance and other non-money remedies

     Money Judgment Remedies  - Court opinions relating to money judgments

OTHER

     Burdens of Proof  - Court opinions relating to the burdens of proof

     Conflict Of Laws  - Court opinions relating to conflict of laws

     Uniformity  - Court opinions relating to uniformity with the laws of other jurisdictions

     Supplementary Law  - Court opinions relating to the interplay of the UVTA with other law

BANKRUPTCY

     Section 548  - Court opinions relating to 11 USC 548

 

OTHER RESOURCES

 

 

OTHER INFORMATIONAL WEBSITES BY JAY ADKISSON

 

  • Jay Adkisson - More about Jay D. Adkisson, background, books, articles, speaking appearances.

 

  • Captive Insurance - Licensed insurance companies formed by the parent organization to handle the insurance and risk management needs of the business, by the author of the best-selling book on the topic: Adkisson's Captive Insurance Companies.

 

  • Asset Protection - The all-time best-selling book on asset protection planning by Jay Adkisson and Chris Riser.

 

  • Judgment Collection - An explanation of common creditor remedies, strategies and tactics to enforce a judgment, including a discussion of common debtor asset protection strategies.

 

  • Private Retirement Plans - An exploration of a unique creditor exemption allowed under California law which can be very beneficial but is often misused.

 

  • Charging Orders - The confusing remedy against a debtor's interest in an LLC or partnership is explained in reference to the Uniform Partnership Act, the Uniform Limited Partnership Act, and the Uniform Limited Liability Company Act.

 

  • Protected Series - An examination of the single most complex statutory legal structure yet created, with particular reference to the Uniform Protected Series Act of 2017.

 

  • California Enforcement of Judgments Law - Considers the topic of judgment enforcement in California, including the California Enforcement of Judgments Law and other laws related to California creditor-debtor issues.

 

  • Anti-SLAPP Laws - A collection of and commentary about Anti-SLAPP laws and significant court decisions on the subject within the United States, and special section on California Anti-SLAPP.

 

Available in 2021

 

Voidable Transactions: Fraudulent Transfers In American Law, by Jay D. Adkisson

 

Click here for more information

© 2019 Jay D. Adkisson. All rights reserved. No claim to government works or the works of the Uniform Law Commission. The information contained in this website is for general educational purposes only, does not constitute any legal advice or opinion, and should not be relied upon in relation to particular cases. Use this information at your own peril; it is no substitute for the legal advice or opinion of an attorney licensed to practice law in the appropriate jurisdiction. Other. This site https://voidabletransactions.com Contact: jay [at] jayad.com or by phone to 702-953-9617 or by fax to 877-698-0678.