By Andrew R. Schwartz | Published February 22, 2023 | Posted in Complex Litigation | Tagged Tags: fraudulent transfer | Comments Off on 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
Read MoreWinning a lawsuit lets you use court procedures to collect on your judgment. But what if the debtor suddenly claims they don’t have enough money or property to satisfy the debt? The debtor seemed financially healthy until very recently, but now claims poverty. That may signal one or more fraudulent transfers, which are acts of Read More
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