§ 522(i)) avoids a transfer of the debtor's property under any of the avoidance provisions of the Bankruptcy Code, section 550 provides that, with certain restrictions, the trustee, DIP, or debtor may recover the transferred property or its value from the initial transferee, and from any subsequent transferee that does not take the transfer for value, in good faith and without knowledge of the transfer's voidability. If a bankruptcy trustee, a chapter 11 debtor-in-possession ("DIP"), or, in some cases, an individual debtor ( see 11 U.S.C. Post-Avoidance Recovery of Property or Its Value in Bankruptcy 24, 2020), the Tenth Circuit held that, according to the plain language of section 550(a) of the Bankruptcy Code, a recipient of proceeds traceable to fraudulently transferred property does not qualify as a "transferee" because the recipient does not possess the fraudulently transferred property itself. ![]() Spencer Fane LLP (In re Generation Resources Holding Co.), 964 F.3d 958 (10 th Cir. Court of Appeals for the Tenth Circuit could, if followed by other courts, curtail a trustee's avoidance and recovery powers. ![]() However, a ruling recently handed down by the U.S. The ability of a bankruptcy trustee to avoid certain transfers of a debtor's property and to recover the property or its value from the transferees is an essential tool in maximizing the value of a bankruptcy estate for the benefit of all stakeholders.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |