DISCLAIMER: The following unofficial case summaries are prepared by the clerk's office
as a courtesy to the reader. They are not part of the opinion of the court.
116018P.pdf 10/12/2011 Patti J. Sullivan v. Raymond Welsh
U.S. Court of Appeals Case No: 11-6018
U.S. Bankruptcy Court for the District of Minnesota - St. Paul
[PUBLISHED] [Federman, Author, with Venters and Saladino,
Bankruptcy Judges]
Bankruptcy Appellate Panel. While state law determines the nature of a
debtor's interest in property, it does not determine whether a transfer of
that interest in fraudulent under Section 548 of the Bankruptcy Code;
here, the bankruptcy court erred by failing to analyze the transfer of the
debtor's property under the elements of Section 548; on remand, the court
should make findings as to whether the debtor received less than
reasonably equivalent value from her parents and whether she was
insolvent at the time of the transfer or became insolvent as a result of the
transfer.