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  • MEALEYS HEADLINES
  • 5th Circuit: $ 3M Award For Fraudulent Transfers Valid; Evidence Revealed Intent

02/02/2012 10:46:49 AM EST

5th Circuit: $ 3M Award For Fraudulent Transfers Valid; Evidence Revealed Intent

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LexisNexis® Mealey's™ Daily Legal News

NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on Jan. 27 affirmed a ruling that awarded $ 3 million to a trustee on grounds that there was evidence that the debtor company had made fraudulent transfers before filing its petition (Guillermo De La Pena Stettner, et al. v. W. Steve Smith [In Re: IFS Financial Corporation], No. 10-20670, Chapter 7, 5th Cir.; 2012 U.S. App. LEXIS 1706). Full story on lexis.com