☰ Revisor of Missouri

Title XXVII DEBTOR-CREDITOR RELATIONS

Chapter 428

Effective - 28 Aug 1992 bottom

  428.024.  Transfers fraudulent as to present and future creditors. — 1.  A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor's claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation:

  (1)  With actual intent to hinder, delay, or defraud any creditor of the debtor; or

  (2)  Without receiving a reasonably equivalent value in exchange for the transfer or obligation, and the debtor:

  (a)  Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction; or

  (b)  Intended to incur, or believed or reasonably should have believed that he would incur, debts beyond his ability to pay as they became due.

  2.  In determining actual intent under subdivision (1) of subsection 1 of this section, consideration may be given, among other factors, to whether:

  (1)  The transfer or obligation was to an insider;

  (2)  The debtor retained possession or control of the property transferred after the transfer;

  (3)  The transfer or obligation was disclosed or concealed;

  (4)  Before the transfer was made or obligation was incurred, the debtor had been sued or threatened with suit;

  (5)  The transfer was of substantially all the debtor's assets;

  (6)  The debtor absconded;

  (7)  The debtor removed or concealed assets;

  (8)  The value of the consideration received by the debtor was reasonably equivalent to the value of the asset transferred or the amount of the obligation incurred;

  (9)  The debtor was insolvent or became insolvent shortly after the transfer was made or the obligation was incurred;

  (10)  The transfer occurred shortly before or shortly after a substantial debt was incurred; and

  (11)  The debtor transferred the essential assets of the business to a lienor who transferred the assets to an insider of the debtor.

­­--------

(L. 1992 S.B. 448)

(2004) Failure to specifically plead theory of piercing the corporate veil or alter ego does not preclude creditor from recovering under Uniform Fraudulent Transfer Act.  Fischer v. Brancato, 147 S.W.3d 794 (Mo.App.E.D.).


---- end of effective   28 Aug 1992 ----

use this link to bookmark section  428.024


In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions

Site changes Pictures Contact

Other Links
Oversight MOLIS Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House

@12:38:50.8 31 :)