The New York City Bar Association has reissued its report recommending adoption in New York of the proposed Uniform Voidable Transactions Act (“UVTA”), to replace the current fraudulent transfer act in New York’s Debtor and Creditor Law. Alan Kolod, Chairman of MSI's New York law member Moses & Singer and Vice Chair of the City Bar subcommittee reports.
New York is one of only two states that has retained a fraudulent transfer law based on the 1918 model act. The UVTA is sponsored by NY State Assembly Member Weinstein and State Senator Bonacic, and identical bills have been introduced in the Senate and Assembly. Alan Kolod is Vice Chair of the City Bar subcommittee that wrote the report supporting adoption of the UVTA.
Read the full report here
