By Andrew R. Schwartz | Published May 22, 2023 | Posted in Complex Litigation | Tagged Tags: asset protection strategies, fraudulent transfer litigation, Uniform Fraudulent Transfer Act | Comments Off on When Can Asset Protection Strategies Be Considered Fraudulent Transfers?
When Can Asset Protection Strategies Be Considered Fraudulent Transfers?
Individuals and business organizations may legitimately seek to preserve wealth through various devices and methods known collectively as asset protection strategies. These often involve transferring money or other property into trusts and/or foreign bank accounts — which is perfectly legal so long as the transfer is not “fraudulent” in nature. A fraudulent transfer occurs when Read More
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Types of Fraudulent Transfers That Can Be Set Aside Under Illinois Law
Debtors commonly engage in fraudulent transfers to avoid paying debts or other obligations by using two related tactics. The first is to dissipate assets; the debtor transfers property to a friendly third party in an effort to keep the assets out of the creditor’s reach. The second tactic is to take on higher priority debt Read More
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Dominion Voting Machine Defamation Suit Raises Major Judgment Collection Issues
In early 2021, Dominion Voting Systems filed defamation lawsuits in federal court against Donald Trump’s former personal lawyer Rudy Giuliani, former Trump campaign attorney Sidney Powell and MyPillow CEO Mike Lindell. Each defendant is accused of repeated peddling of debunked allegations that Dominion was involved in fraud that delivered the 2020 election to Joe Biden. Read More
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Claims Against Benefit Plan Sponsors Grow More Sophisticated
Lawsuits against sponsors of retirement plans have been fairly common over the past decade. Typically, these claims involved relatively obvious violations, like excessive costs, negligent oversight and other types of blatant mismanagement.
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