Fraudulent Transfers and Conveyances

ORS 95.240
Transfers fraudulent as to present creditors


(1)

A transfer made or obligation incurred by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor was insolvent at that time or the debtor becomes insolvent as a result of the transfer or obligation.

(2)

A transfer made by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made if the transfer was made to an insider for other than a present, reasonably equivalent value, the debtor was insolvent at that time and the insider had reasonable cause to believe that the debtor was insolvent. [1985 c.664 §5]

Notes of Decisions

Uniform Fraudulent Transfer Act did not provide means by which creditor could void transfer from bank to shareholder of debtor because disposing of property that is subject to security interest is not transfer of assets. Kellstrom Bros. Painting v. Carriage Works, Inc., 117 Or App 276, 844 P2d 221 (1992), Sup Ct review denied

Equitable distribution of marital property in noncollusive dissolution proceeding is given for "reasonably equivalent value." In re Bledsoe, 350 B.R. 513 (Bkrtcy. D. Or. 2006)

§§ 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