Fraudulent Transfers and Conveyances

ORS 95.210
Insolvency described


(1)

A debtor is insolvent if, at a fair valuation, the sum of the debtor’s debts is greater than all of the debtor’s assets.

(2)

A debtor who is generally not paying debts of the debtor as they become due is presumed to be insolvent.

(3)

A partnership is insolvent under subsection (1) of this section if, at a fair valuation, the sum of the partnership’s debts is greater than the aggregate of all of the partnership’s assets and the sum of the excess of the value of each general partner’s nonpartnership assets over the partner’s nonpartnership debts.

(4)

Assets under this section do not include property that has been transferred, concealed or removed with intent to hinder, delay, or defraud creditors or that has been transferred in a manner making the transfer voidable under ORS 95.200 (Definitions for ORS 95.200 to 95.310) to 95.310 (Short title).

(5)

Debts under this section do not include an obligation to the extent the obligation is secured by a valid lien on property of the debtor not included as an asset. [1985 c.664 §2]
§§ 95.200 to 95.310

Notes of Decisions

Where plaintiff brought products liability action against corporation and holding company entirely owned by former shareholders of corporation for asbestos related injury, corporate restructuring resulting in formation of holding company was designed for improper purpose of escaping asbestos related liabilities and holding company was successor in liability and responsible for corporations' strict liability torts. Schmoll v. Acands, Inc., 703 F Supp 868 (D. Or. 1988)


Source

Last accessed
Jun. 26, 2021