98–353, § 463(c)(1), substituted “is so” for “becomes so far”, “applicable law permits such transfer to be” for “such transfer could have been”, and “is made” for “occurs”. 98–353, § 463(b), inserted “or may retain” after “lien on” and struck out “, may retain any lien transferred,” before “or may enforce any obligation incurred”. 98–353, § 463(a)(3), inserted “or a transaction” after “engaged in business”. 98–353, § 463(a)(1), substituted “if the debtor voluntarily or involuntarily” for “if the debtor” in provisions preceding par. 99–554 substituted “, financial institution” for “financial institution,”.ġ984-Subsec. (1)(B)(ii)(I) to (III), respectively, and added par. (1)(B)(i) and (ii), respectively, and redesignated former par. (1)(A) and (B), respectively, redesignated former par. 105–183, § 3(a), designated existing provisions as par. 109–8, § 907(o)(6), inserted “or financial participant” after “swap participant”. 109–8, § 907(o)(5), inserted “or financial participant” after “repo participant”. 109–8, § 907(o)(4), inserted “financial participant,” after “financial institution,”. 109–8, § 1402(1), substituted “2 years” for “one year” in introductory provisions. 109–8, § 1402(2), in introductory provisions, inserted “(including any transfer to or for the benefit of an insider under an employment contract)” after “avoid any transfer” and “(including any obligation to or for the benefit of an insider under an employment contract)” after “or any obligation”. Subsection (d) also defines “ value” to mean property, or the satisfaction or securing of a present or antecedent debt, but does not include an unperformed promise to furnish support to the debtor or a relative of the debtor.Ģ005-Subsec. If not made before the commencement of the case, it is considered made immediately before then. Subsection (d) specifies that for the purposes of fraudulent transfer section, a transfer is made when it is valid against a subsequent bona fide purchaser. If a transferee’s only liability to the trustee is under this section, and if he takes for value and in good faith, then subsection (c) grants him a lien on the property transferred, or other similar protection. The trustee of a partnership debtor may avoid any transfer of partnership property to a partner in the debtor if the debtor was or thereby became insolvent.
Transfers made for less than a reasonably equivalent consideration are also vulnerable if the debtor was or thereby becomes insolvent, was engaged in business with an unreasonably small capital, or intended to incur debts that would be beyond his ability to repay. The trustee may avoid fraudulent transfers or obligations if made with actual intent to hinder, delay, or defraud a past or future creditor. Its history dates from the statute of 13 Eliz.
It permits the trustee to avoid transfers by the debtor in fraud of his creditors. in connection with the restructuring of 68 million euro financing for the Rose Garden residential project.This section is derived in large part from section 67d of the Bankruptcy Act. UniCredit Tiriac and UniCredit Bank Austria in connection with restructuring of 60 million euro finance granted to an international private equity fund holding City Mall Bucharest.Volksbank International AG within the restructuring of the land finance granted in favour of a residential developer, including the transfer of the asset to the bank vehicle out of the insolvency procedure.
(one of the most complex distressed sales ever in the Czech market). from bankruptcy receiver of LESS & TIMBER s.r.o. An investment company on the proposed acquisition of LESS & ENERGY s.r.o.European Fund for Southeast Europe in connection with restructuring of a loan portfolio granted by EFSE and a number of international lenders for financing the activity of Central and Eastern European financial institutions.Heitman International during the negotiations with Investkredit Bank and Volksbank for the restructuring of a 35 million euro defaulting.
A selection of our collective knowledge, includes advising:
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