Fraudulent Transfer Action in Bankruptcy

In In re: Schwarzkopf, No. 08-56974, an adversary proceeding seeking to recover for bankrupt estates’ benefit approximately $4 million in assets, the court affirmed and reversed in part partial judgment for defendants where 1) the district court did not err in finding that a trust to which defendants transferred certain assets was fraudulent; and 2) the California courts had not extended the prohibition on “reverse-piercing” the corporate veil to the trust context.

 

Related Resources

  • Read the Ninth Circuit’s Decision in In re: Schwarzkopf, No. 08-56974

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