Prosecution and defense of fraudulent transfer claims
A fraudulent transfer occurs when a debtor makes a transfer of assets designed to hinder, delay or defraud a creditor. Attorneys in the Banking Group have experience in pursuing borrowers and other debtors who have made such transfers in violation of fraudulent transfer laws, and in the process garnered assets that increase a creditor's ability to obtain greater actual recovery against debtors. The Banking Group's knowledge in this area complements and bolsters its Creditor's Rights practice. The firm's attorneys are well-versed in pursuing and defending actions to set aside fraudulent transfers under the Illinois Uniform Fraudulent Transfer Act as well as the fraudulent transfer laws of other states. The Banking Group has also dealt with issues of fraudulent conveyances that frequently come into play under the Bankruptcy Code.