![]() ![]() Payments to related parties, including other businesses in which the debtor has an ownership interest, and relatives, friends or business partners of the debtor.“It is a blatant action intended to undermine often legitimate claims filed by creditors, ex-spouses and other parties.Īnderson said the resulting fraudulent conveyance litigation typically involves civil suits bought by creditors or bankruptcy trustees seeking to recover improperly transferred assets or business. “Black’s Law Dictionary defines fraudulent conveyance or fraudulent transfer as ‘the illegal transfer of property by a debtor to avoid creditors or claims’,” said David Anderson, principal of David Anderson & Associates, a Philadelphia forensic accounting firm that provides litigation support services and expert witness testimony in Philadelphia and the Delaware Valley. When that happens, it is the role of the forensic accountant to uncover the improperly transferred assets and determine their value. ![]() Blog Forensic Accountants Help Fight Fraudulent Conveyance Litigationĭavid Anderson is principal of David Anderson & Associates, a Philadelphia forensic accounting firm that provides a full range of fraud investigation, fraud deterrence, litigation support and expert witness testimony services in Philadelphia and the Delaware Valley.įacing losses from such occurrences as foreclosures, divorces and other legal proceedings, shady business owners sometimes resort to the fraudulent conveyance or transfer of property or other assets to lessen or eliminate their losses by hiding valuable assets. ![]()
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