News Flash Re: Fraudulent Transfer Law in New York
In our November 13 post entitled “500 Years and Counting: 16th Century Legal Principles Resonate in Modern Fraudulent Transfer Jurisprudence,” note 4 states in part:
On May 8, 2019, the New York Legislature enacted the [Uniform Voidable Transactions Act] to replace Article 10 of the [Debtor Creditor Law, codifying the Uniform Fraudulent Conveyance Act enacted in 1925], but, as of the writing of this blog post, it still awaits the signature of Gov. Andrew Cuomo.
Gov. Cuomo signed the UVTA on December 6. It becomes effective in 120 days, which, by my calculation, is April 4, 2020.