Fraudulent Transfers

Don’t Let a Fraudulent Transfer Defeat Your Claim

In general terms, a fraudulent transfer is a transaction that moves property out of the hands of a debtor for inadequate value, usually for the purpose of frustrating a creditor’s attempts to collect a debt or enforce a judgment. If a debtor’s transfer of assets threatens to undermine your attempts to collect a liquidated debt or execute on a judgment lien in Massachusetts, contact a knowledgeable asset recovery attorney at Gannett & Associates in Boston.

Call (617) 367-0606 for a free consultation about debt collection problems

A judgment creditor’s claim is only as valuable as the assets available to meet it. Bearing this in mind, many debtors are tempted to evade their obligations by transferring assets out of the reach of their creditors. If the debtor did not receive equivalent value and the transfer affects the creditor’s ability to collect, then state law allows the creditor to set aside the transaction as though it never took place.

The Uniform Fraudulent Transfer Act (UFTA) defines the circumstances under which a creditor can set aside a transaction that places otherwise available assets out of the reach of the debt collection process. Our experience with the UFTA not only allows us to spot and avoid such simple tactics as transferring property into the name of a child or spouse, it also helps us unravel intricate series of transfers between business affiliates, or between predecessor and successor corporate entities through assignment proceedings.

We also know how to attack fraudulent transfers in bankruptcy court, where some important legal distinctions and time periods can affect your ability to challenge a given transaction.

At Gannett & Associates, we know how to get productive answers to the critical questions:

• What are the debtor’s assets?
• Where did they go?
• What did the debtor receive in exchange?
• What’s the relationship between the debtor and the transferee?
• How does the timing of the transfer relate to the date of a lawsuit or judgment?

Sometimes it’s necessary to analyze and penetrate a long series of transactions between interrelated corporate entities in order to show that apparently legitimate transfers were ultimately bogus.

Our clients range from divorced spouses who need to collect on property division decrees to international export and trading companies attempting to recover the losses incurred through sales to insolvent or dishonest buyers in Massachusetts. We also handle substantial collections cases in Illinois.

For a free consultation with a collections lawyer who knows how to apply the Uniform Fraudulent Transfer Act to your advantage, contact Gannett & Associates in Boston.

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Gannett & Associates
165 Friend Street
Suite 200
Boston, MA 02114
(617) 367-0606