In re Pulliam (Ch 7. Case No. 00-31502, Adv. No. 01-03015)

The debtor withdrew the funds in his IRA. The debtor later met with a bankruptcy attorney and learned that he could exempt funds in an IRA. The debtor rolled over his IRA distribution check into his IRA. The Court held that the debtor had, on the eve of bankruptcy, converted his IRA distribution check into an IRA with actual intent to hinder, delay, or defraud creditors. The Court allowed the trustee to avoid the transfer as a fraudulent conveyance.

Tuesday, June 18, 2002