Bankruptcy
Sep. 8, 2016
New law may extend time to challenge fraudulent transfers
For at least 20 years, transfers made more than seven years prior were not subject to challenge by a creditor as a fraudulent transfer. But although unnoticed by many people, this all changed last January. By Evan W. Granowitz
If someone owes you money, but has transferred all of their assets away to avoid paying you or their other creditors, should you be precluded from attacking these transfers if they were made seven or more years ago? For at least 20 years, California law answered this question in the affirmative; transfers made more than seven years prior were not subject to challenge by a creditor as a fraudulent transfer. But although unnotic...
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