Continental Casualty Company v. Symons, et al. 7th Circuit Court of Appeals Citation: 14-2665, 14-2671 & 15-106 Decided: March 22, 2016 This fraudulent transfer case pits 2 insurance company’s – as well as the controlling family of the seller and their related businesses – against one another. despite some fancy footwork on the part of...Read More
In this appeal of a Shareholder Derivative case concerning a stock option plan used as executive compensation, the Plaintiff appealed from dismissal with prejudice by the District Court for the Northern District of Illinois, Eastern Division. Plaintiff was a stockholder in DeVry Education Group, a Delaware company that owns and operates for-profit colleges. Plaintiff brought...Read More
The “good faith” defense articulated in 11 U.S.C. 550(b)(1) applies as long as the transferee: (1) is an immediate or mediate transferee under §550(a)(2); (2) took the transfers for value; (3) took the transfers “in good faith;” and (4) took the transfers “without knowledge of the voidability of the transfer avoided.”Read More
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