Tuesday, July 29, 2014
As I have previously discussed, the Uniform Voidable Transactions Act (UVTA), adopted July 16, 2014 by the Uniform Law Commission, amended the 1984 Uniform Fraudulent Transfer Act (UFTA). One of the changes to the UVTA attempts to address the complicated issue of how burden of proof works in a case when creditors are trying to collect from debtors, and make it clearer than previous versions of the UFTA who has the burden. One addition made by the UVTA is a rebuttable presumption of insolvency if the debtor was not making timely payments.
See Jay Adkisson, The Uniform Voidable Transactions Act and The Shifting of Burdens, Forbes, July 27, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.