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Litigating a Fraudulent Conveyance Claim

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Advanced Fraudulent Transfers 45 Litigating a Fraudulent Conveyance Claim standing G iven the potential value of fraudulent conveyance claims, an of- ten-litigated issue is who has the standing (or ability) to bring the litigation. Resolution of that issue may dictate whether the claims at issue are pursued vigorously by or on behalf of those who stand to benefit the most from their prosecution, or are bargained away, oen to the primary benefit of those who would be the targets of such actions. A. Trustees and Debtors, Creditors and Creditors'Committees,LiquidatingTrusts, OfficersandShareholdersoftheDebtor 1. Trustees and Debtors Under the Bankruptcy Code, fraudulent conveyance litigation may be com- menced under either § 544(b) or 548. By their terms, §§ 544 and 548 each provide that "[t]he trustee may avoid" specified types of transfers. Under the

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