Second Circuit Defines a Prohibited Double Recovery on Fraudulent Transfers
There is no prohibited double recovery from multiple defendants, the appeals courts says, until the trustee has recovered cash equaling the value of the fraudulently transferred property.
Disclosing an Asset in the Wrong Place Won’t Invoke Judicial Estoppel, Circuit Says
Second Circuit won’t give a defendant a windfall if the debtor scheduled the lawsuit in the wrong place but told the trustee and the court.