In bankruptcy law there are two kinds of fraudulent transfer. One is a transfer made with fraudulent intent. The other is a transfer without fraudulent intent, but where the debtor transferred away an asset and did not receive fair value in return. The amount of value transferred that was not compensated in return constitutes a fraudulent transfer. A Trustee may either seek to recover the property transferred, or the value of the property. Contact us today to learn more.
As with the concept of preference, this is a complex and difficult area. As with preference, the recipient ordinarily feels they were entitled to the transfer. They are incensed to be subject to lawsuit for return of the property or its value.
Summaries of Bankruptcy Chapter 7, 13, 11 Mediation |
I can help such a recipient of a transfer who is contacted or sued by a Trustee to understand the nature of the lawsuit the nature of the facts involved, and the defenses that can be asserted. Here, again, litigation is not desirable to either side because of the expense in attorney’s fees and costs. Therefore, there is fertile ground to settle the matter if both sides accurately appreciate the strengths and weaknesses of their legal positions.
I welcome people and corporations who have received preferences or transfers that a bankruptcy trustee seeks to recover. My knowledge and expertise will be extremely valuable in understanding facts and defenses. My sensitivity to the concept that cost of legal representation should not exceed the benefit will help you in attempting to take the most advantageous (or least disadvantageous), actions In these circumstances.
Pecarek & Herman, Chartered
200 Clearwater-Largo Road South
Largo, FL 33770-1330
Phone: 727-584-8161
Fax: 727-586-5813
Pecarek & Herman, Chartered, in Largo, Florida, represents clients in Tampa Bay and throughout Hernando County, Hillsborough County, Pasco County, and Pinellas County, including the cities of Belleair, Brooksville, Clearwater, Dade City, Dunedin, New Port Richey, Largo, Palm Harbor, Pinellas Park, Port Richey, St. Petersburg, Seminole, Tampa, and Tarpon Springs, Florida.
