In the recent case of Phillips v. Josmic 2 (In re ONH AFC CS Investors)
DE Bankruptcy Court Addresses Standing In the Context of a Fraudulent Conveyance Action
In the recent case of In re ONH AFC CS Investors, the U.S. Bankruptcy Court for the District of Delaware examined the issue of standing in the context of a fraudulent conveyance action and whether a liquidating trustee had standing to pursue fraudulent conveyance claims when the beneficiaries of those claims were the debtors’ equity holders. Under limited circumstances, which were present in this case, the court found that the trustee could pursue such claims.
By
Lawrence J. Kotler
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