Regularly Conducted Tax Sales Cannot Be Fraudulent Transfer, Ninth Circuit Holds

Rochelle’s Daily Wire posted an interesting article recently. Here is a snippet: “The Ninth Circuit joined the Fifth and Tenth by holding that a tax sale conducted in accordance with state law cannot be set aside as a fraudulent transfer for less than reasonably equivalent value.

“A company owned real property but did not pay real estate taxes for years. The company filed a chapter 11 petition a month after the county sold the property in a tax sale. The newly minted debtor in possession immediately sued the county and the buyer to set aside the tax sale as a fraudulent transfer under the Bankruptcy Code and California law.”

You can read the entire article here.

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