Bankruptcy Preference Actions

Orlando Bankruptcy Litigation Lawyer, L. Todd Budgen provides professional Bankruptcy Preference Actions Attorney services in Orlando, Maitland, Longwood, Altamonte Springs, Winter Park, Orange - Osceola - Seminole Counties, and Central Florida.

Call 407.481.2888 about your Bankruptcy Preference Actions needs in Orlando and Central Florida.

Bankruptcy Code Section 547 – Preference Actions

Budgen Law represents Debtors who are defending against a Section 547 preferential transfer or if you are a recipient of that alleged preferential transfer.

Some basic facts of what constitutes a preferential transfer in bankruptcy:

• No fraudulent intent required and no implication of any wrongdoing
  
  
• Very technical rule – if certain conditions are met, the transfer from the Debtor to a person (recipient) is reversible by the Trustee
  
  
• The idea is to reverse the tide of assets flowing out from the Debtor’s control on the eve of a bankruptcy filing
  
  
• Trustee wants to see if anything can be recalled for the benefit of the bankruptcy estate (the unsecured creditors who are otherwise not paid in a bankruptcy)
  
  
• Key analyses:
  
  > Was Debtor insolvent when transfer occurred?
  
  > Did Debtor receive fair value?
  
  > Was that value received contemporaneously (around the same time) as the transfer?
  
  > Did Debtor receive new value?
  
  
• One year look back period for insiders (the people to whom the Debtor made the transfer)
  
  

The Trustee can pursue the Debtor or the recipient depending on the circumstances. Budgen Law can represent either the Debtor or the recipient.

Call 407.481.2888 to Schedule a Confidential Bankruptcy Preference Actions Legal Consultation with Orlando and Central Florida Lawyer, L. Todd Budgen.