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Caution state law variances!
Voidable Transaction Decision Chart
While the statutory text of the UVTA is, like its predecessors, insufferable, the actual decision-making process that a litigator will go through to determine if a fraudulent transfer exists is actually relatively straightforward and not complex. The following chart illustrates this process. While this chart isn't exactly right, see Notes below the chart, it should assist litigators in reaching a quick conclusion as to whether a given voidable transaction action is viable.
You may click on a particular item on this chart to take you immediately to the webpage for that item.
1. Arguably, one might look at the defenses first, i.e., if the transferee was in good faith and gave reasonably equivalent value, or if the action has been extinguished by the passage of time, then the remainder of the analysis can be no more than academic. However, at least with the extinguishment issue, this can become a "chicken/egg" sort of question, as there are different extinguishment periods for different sorts of voidable transactions.
C O M M O N P A G E F O O T E R
RECENT ARTICLES ON FRAUDULENT TRANSFERS
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
Many more articles by Jay Adkisson found here
UVTA - LOGICAL ORGANIZATION (Designed For Litigators)
Overview of UVTA -- The process and result
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
3 - Value
4 - Transfer Or Obligation Voidable As To Present Or Future Creditor
5 - Transfer or Obligation Voidable As To Present Creditor
8 - Defenses, Liability, And Protection Of Transferee Or Obligee
10 - Governing Law
15 - Short Title
FRAUDULENT TRANSFERS IN BANKRUPTCY
OTHER INFORMATIONAL WEBSITES BY JAY ADKISSON
© 2018 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. This site https://voidabletransactions.com Contact: jay [at] jayadkisson.com or by phone to 949-200-7773 or by fax to 877-698-0678.