A receiver brought this case under the Texas Uniform Fraudulent Transfer Act to recover approximately $1.6 million in political contributions made to various political committees. The political committees appeal. Previous courts have held that, when the receiver acts to protect innocent creditors, he can maintain and defend actions done in fraud of creditors even though the corporation would not be permitted to do so. The alleged fraud was inherently undiscoverable, and the receiver's TUFTA claim is not preempted. The district court's judgment is affirmed. 5th U.S. Circuit Court of Appeals, No. 11-10704, 10-23-2012.
Janvey v. Democratic Senatorial Campaign Committee Inc., et al.
October 25, 2012