Cont'l Cas. Co. v. Symons

1 Analyses of this case by attorneys

  1. Third Circuit Holds Transfer from Non-Debtor Precludes Liability Under Delaware Fraudulent Transfer Law

    Patterson Belknap Webb & Tyler LLPDaniel LowenthalJanuary 19, 2018

    Earlier this week, Crystallex filed a petition requesting that the case be reheard either before the three-member panel or the full Third Circuit sitting en banc. That petition argues that the majority’s decision (a) misinterprets Delaware law on the scope of DUFTA; (b) overlooks the Third Circuit’s decision in In re Wettach, 811 F.3d 99 (3d Cir. 2016), which addressed the “broad scope” of Pennsylvania’s fraudulent transfer statute; and (c) is in direct conflict with the Seventh Circuit’s decision in Continental Casualty Co. v. Symons, 817 F.3d 979 (7th Cir. 2016), which held as fraudulent a transfer structured to hinder creditors even though the transferor was not the debtor itself. The Court has not yet ruled on that petition.