Certiorari denied regarding fraudulent transfer

Supreme Court denied bankruptcy trustee certiorari petition regarding fraudulent transfer.

The Supreme Court did not grant certiorari from the 4th Circuit to resolve a spit of decisions, and thus declined to rule on whether a transfer into someone’s own bank account qualifies as a “transfer” on which a fraudulent transfer suit may arise.

Ivey v. First Citizens Bank & Trust Co., 16-1330 (Sup. Court)

In Ivey v. First Citizens Bank & Trust Co. (In re Whitley), 848 F.3d 205 (4th Cir. Jan. 31, 2017), the Fourth Circuit held that a deposit into one’s own bank account is not a “transfer” per Bankruptcy Code Section 101(54) and thus there is no grounds for objection based on a fraudulent transfer with actual intent to hinder or delay creditors under Section 548(a)(1)(A).

Free Bankruptcy Evaluation

Free Bankruptcy Evaluation

First
Last
What type of debts do you have?

About Author

Terrance Leeders

Chicago Bankruptcy Lawyer, husband, father, Cubs fan.

Related Posts