The Achilles Heel to Domestic Asset Protection Laws?

June 21, 2017

Jay Adkisson recently highlighted the Nevada case of Transfirst Group, Inc. v. Magliarditi, 2017 WL 2294288 (D. Nev., May 25, 2017), in which fraudulent transfers (i.e., transfers of assets made to frustrate a creditor) were the subject of an injunction to prevent the debtor from moving assets beyond the creditor’s reach. The creditor took the position that certain entities (LLC, corporation, partnership, trust) were merely alter egos of the debtor, and therefore those entities were also subject to the claims that the creditor held against the debtor. (more…)

If You Can’t Defend, then Decant! (To Protect Assets in a Divorce)

 June 14, 2017
I would like to thank Alexander Bove and Melissa Langa for reminding me through Leimberg Information Services, Inc. of the Ferri vs. Powell-Ferri case and the more recent update pertaining to the Massachusetts Supreme Court case (the cite for which is MICHAEL J. FERRI, trustee vs. NANCY POWELL-FERRI, SJC-12070 (Suffolk 3-20-17), which addressed specific aspects of the case. (more…)

Nevis Offers Enhanced LLC Asset Protection “Brick Wall” Law

May 3, 2017:

Over the recent years, Nevis has added barriers to those creditors who seek to seize assets from targeted debtors. For starters, in order for a creditor to lay claim to assets in a Nevis LLC, the creditor must prove beyond a reasonable doubt (a very tough hurdle to overcome in a Nevis court) that the debtor, at the time he transferred the assets to the Nevis LLC, (1) intended to defraud that creditor and (2) was rendered insolvent by the transfer to the LLC, considering all of his assets including the full fair market value of the LLC interest. (more…)

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