upholding district court decision that the defendant lender “did not act in good faith because it was aware, first, that the exchange would render [the debtor] insolvent, and second, that no member of the [debtor] would receive fair consideration”
How later courts described this case
- upholding district court decision that the defendant lender “did not act in good faith because it was aware, first, that the exchange would render [the debtor] insolvent, and second, that no member of the [debtor] would receive fair consideration”
- without discussing the issue, the Court appears to apply the UFCA to a transaction which took seven years prior to suit; however, this result may be explained by the intervention of subsequent mediate transfers and the presence of actual fraud
- trustee’s claim asserted on behalf of the United States was not barred by the state statute of limitations since the trustee was empowered to assert the rights of the United States as a creditor
- applying the Pennsylvania Uniform Fraudulent Conveyances Act, 39 P.S. § 351
Written by the judges who cited it.
The opinion
This record has no opinion text. It is a disposition such as a denial of certiorari, kept so the case can be found by name and citation.