Case Study: In Re TOUSA

Law360, New York (March 23, 2011, 1:21 PM EDT) -- On Feb. 11, 2011, Judge Alan S. Gold of the U.S. District Court for the Southern District of Florida issued an opinion and order reversing a ruling by the bankruptcy court presiding over the liquidation of TOUSA Inc. and its subsidiaries in which the bankruptcy court had voided certain transactions as fraudulent transfers.[1]

In reversing the bankruptcy court’s ruling — which had become the subject of significant criticism — the district court found that the bankruptcy court erred in voiding the transactions and in ordering certain...
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