Fraudulent Transfers and Conveyances

ORS 95.220
Value described


(1)

Value is given for a transfer or an obligation if in exchange for the transfer or obligation property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor’s business to furnish support to the debtor or another person.

(2)

For the purposes of ORS 95.230 (Transfers fraudulent as to present and future creditors) (1)(b) and 95.240 (Transfers fraudulent as to present creditors), a person gives a reasonably equivalent value if the person acquires an interest in the debtor in an asset pursuant to a regularly conducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition or disposition of the interest of the debtor upon default under a mortgage, deed of trust or security agreement.

(3)

A transfer is made for present value if the exchange between the debtor and the transferee is intended by them to be contemporaneous and is in fact substantially contemporaneous. [1985 c.664 §3]
§§ 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