Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Francis J. Lawall and Marcy J. McLaughlin of Pepper Hamilton. (Photo: Courtesy Photo) Francis J. Lawall and Marcy J. McLaughlin Smith of Pepper Hamilton. (Photo: Courtesy Photo)

Under the Bankruptcy Code, not only can the initial recipient of a fraudulent conveyance be held liable, but so too can a subsequent transferee. However, there can be important nuances in the challenged transaction that may provide a subsequent transferee with a substantial defense. One of those nuances was recently identified by the U.S. Court of Appeals for the Tenth Circuit, which highlighted the difference between the receipt of the asset which was fraudulently conveyed and the proceeds of such asset. See Rajala v. Spencer Fane (In re Generation Resources Holding), 2020 U.S. App. LEXIS 21454 (10th Cir. July 10, 2020).

Want to continue reading?
Become a Free ALM Digital Reader.

Benefits of a Digital Membership:

  • Free access to 1 article* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

*May exclude premium content
Already have an account?


Pennsylvania Tax HandbookBook

Pennsylvania Accountants, Tax Attorneys, and other Tax Professionals: If you're gearing up for the tax season just ahead, make sure the state's top tax book is in your ...

Get More Information

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.