Transfers to Cook Islands Trust Not Voidable

In a previous blog, we discussed the “Bellinger” case and how the court concluded that the debtor’s actions were defensible. To briefly recap the facts, this was the matter in which Mr. Bellinger had made transfers of about $1.7 million to a Cook Islands trust after he knew the primary obligors (on a promissory note that he had personally guaranteed) were defaulting. Continue reading