Stanwich Clarifies Wagoner Rule in Fraudulent Transfer CasesOctober 2013
In the Second U.S. Circuit, the so-called Wagoner rule deprives a trustee of standing to sue third parties, such as lawyers and investment bankers, if the bankrupt corporation participated with them in defrauding creditors. A recent decision from Connecticut clarifies the limitation of the Wagoner rule when a trustee asserts fraudulent transfer claims.
To continue reading Dan Lowenthal's article from the October 2013 issue of the Journal of Corporate Renewal, please click here.