Effect Of Bankruptcy Discharge On Creditor’s Standing To Sue Transferee Under New Jersey’s Fraudulent Transfer Act
Picture this scenario: A debtor transfers his assets to his wife to avoid a creditor's judgment. The debtor then discharges the creditor's judgment in a chapter 7 Bankruptcy. Can the creditor independently sue the debtor's wife under New Jersey’s Fraudulent Transfer Act (“NJUFTA”), N.J.S.A. 25:2-20 et seq., to avoid the asset transfer e...
Tagged in: bankruptcy discharge fraudulent transfer, credit claim against transferee, extinguish debt to sue fraudulent transfer, fraudulent conveyance attorney nj, fraudulent transfer assets standing to sue nj, fraudulent transfer attorneys nj, fraudulent transfer transferee nj, N.J.S.A. 25:2-1(b), n.j.s.a. 25:2-20, new jersey uniform fraudulent transfer act, njufta
INHERITED IRA NOT PROPERTY BANKRUPTCY ESTATE | NJ
Under federal bankruptcy law, retirement funds are generally exempt from the claims of creditors in bankruptcy proceedings. But in Clark v. Rameker, 134 S. Ct. 2242, 189 L. Ed. 2d 157 (2014), the United States Supreme Court declared that an inherited IRA -received by the beneficiary upon death of the IRA owner - does not fall within the definition ...