By Andrew R. Schwartz | Published December 30, 2019 | Posted in Debtor & Creditor | Tagged Tags: debtor fraud, Fraudulent Transfers, Uniform Fraudulent Transfer Act | Comments Off on Fraudulent Transfer Questions Cast Doubt on Oxycontin Settlement
Fraudulent Transfer Questions Cast Doubt on Oxycontin Settlement
A tentative settlement involving Purdue Pharma, the maker of Oxycontin, received great fanfare in the media, with the company claiming that it will pay at least $10 billion “to address the opioid crisis.”
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Court Bars Business Oppression Even Though Shareholders Were in Litigation
Business oppression occurs when the shareholder majority exercises its voting power to abuse the ownership rights of the minority.
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Pension Intercept Requested for East St. Louis Firefighters’ Fund
For the third time since enactment of the Illinois pension intercept law, a municipal employee pension board seeks to have city monies redirected to replenish long-neglected funds.
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Understanding Creditors’ Options When Enforcing Judgments
Whether you’ve won a legal case, performed professional services or leased commercial property to a tenant, collecting the payment often proves to be the toughest part of the task.
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Fraudulent Intent Not Always Necessary to Unwind an Improper Transaction
Creditors may use Illinois’ Uniform Fraudulent Transfer Act (IUFTA) to recover funds improperly shifted by a debtor to a third party.
Read MoreBusiness Oppression Case Divides Family-Owned Construction Company
A major construction company with Illinois roots has demonstrated that serious “business oppression” conflicts can happen even in family-run businesses.
Read MoreChicago Police and Fire Pension Trustees Seek to Intercept Funds
For years, local governments in Illinois have had trouble balancing their budgets. Several struggling local governments have either failed to make public pension fund contributions, or paid far less than what they owe.
Read MoreEmploying the Confession of Judgment in Illinois
Confession-of-judgment clauses let creditors circumvent the normal judicial process and obtain a judgment. Promissory notes, guaranties and other contracts may include them.
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Mr. Schwartz and Mr. Kanyock IICLE chapter on fraudulent transfer litigation
Litigating the Suit to Set Aside a Fraudulent Transfer.
Read MoreWhen Should I Use an Out-of-Jurisdiction Lawyer?
Federalism presents numerous positive aspects. But if you’re an attorney who must reach across state lines to resolve a case, our federal system does not exactly roll out the welcome mat.
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