2nd's which were not reconveyed
Posted: Fri Oct 26, 2018 2:15 pm
Dear Dennis,
As I mentioned during our phone call, I filed an avoidance action based on the theory that B of As failure to reconvey the second constituted a fraudulent transfer. In spite of the definition of transfer in 11 U.S.C. 101(54)(B), I was unable to convince Judge Houle that the failure to reconvey constituted a transfer. The case law is very sparse on the question, so he suggested that I appeal. He stated that he would take no umbrage if I did.
Please find attached the consent judgment between B of A and 49 of the states. Page 169 of the PDF contains the language regarding reconveyance. Let me know if you want to see my complaint and I will email a Word version to you.
Best regards,
Nick
Nicholas Gebelt
Nicholas Gebelt, Ph.D., J.D.
Attorney at Law
Certified Bankruptcy Law Specialist State Bar of California Board of Legal Specialization
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