USACM Payment To Bingham Found Fraudulent

Law360, New York (June 7, 2010, 6:05 PM EDT) -- A federal judge has upheld a bankruptcy court’s finding that a $200,000 payment USA Commercial Mortgage Co. made to law firm Bingham McCutchen LLP months before filing for bankruptcy constitutes a fraudulent transfer.

Chief Judge Roger L. Hunt of the U.S. District Court for the District of Nevada ruled Friday that the bankruptcy court did not err in finding that the wire transfer was a fraudulent and avoidable transfer under 11 U.S.C. § 548.

The dispute involves a $200,000 wire payment that mortgage lender USACM sent...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.