Category Archives: fraudulent

New York Modernizes the Debtor and Creditor Law

On December 6, 2019, the Governor signed a bill repealing Article 10 of the Debtor and Creditor Law (“DCL”) and replacing it with provisions contained in the Uniform Voidable Transactions Act (known until recently as the Uniform Fraudulent Transfer Act). Until now, New York State remained one of only two states that had not adopted the UVTA.  The existing DCL provisions derived from the UFCA adopted by New York State in 1925. In this blog, I have made some preliminary observations about the new Article 10. Many of the changes bring Article 10 into line with Section 548 of the […]

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