Legal Question in Credit and Debt Law in California

How To Set Aside a Fraudulent Transfer

What are the procedures for setting aside a fraudulent transfer? I got a judgment against someone who wouldn't pay me for services. Now that I have a judgment, they transferred their assets to a newly formed corporation. Do I file a complaint, a motion, are there several options, if so, what are they? I don't want to spend alot of money trying to collect. Thanks in advance for your help.

Asked on 9/24/01, 4:55 am

3 Answers from Attorneys

Larry Rothman Larry Rothman & Associates
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Re: How To Set Aside a Fraudulent Transfer

There is a Motion to add and judgment debtor and possibly a law suit for fraudulent transfer. I'd be glad to review your documents without charge and then let you know what I would charge to handle your case fax 714 363-0229

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11/17/01, 6:40 pm
Joshua Genser Joshua G. Genser, Attorney at Law
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Re: How To Set Aside a Fraudulent Transfer

You would have to due the transferee and prove that

the transfer was fraudulent. Sorry, there's no

inexpensive way to do it.

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11/06/01, 1:12 pm
Alexander Trueblood Trueblood Law Firm
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Re: How To Set Aside a Fraudulent Transfer

You can either file a complaint for fraudulent transfer, with resulting litigation that could take more than a year to resolve. Meanwhile, the assets will probably be transferred somewhere else.

Or you could levy on the corporate accounts, which entails some risk. If the court finds that the transfer was valid, you will be liable for a wrongful levy.

Neither option should be taken until you consult with a lawyer about your particular situation.

My experience is that a person who is willing to transfer assets is willing to do it again, and probably to flaunt court orders. Don't throw good money after bad!

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11/06/01, 1:13 pm

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