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Question
Which of the following transfers would be considered fraudulent under the 2005 revisions of the Bankruptcy Code?
A. Transfers that are intended by the debtor and creditor to be a contemporaneous exchange for new value.
B. Transfers that led to the creation of a security interest in new property where new value was given by the secured party to enable the debtor to obtain the property.
C. Transfers made in payment of a debt incurred in the ordinary course of the business of the debtor and the transferee.
D. Transfers to or for the benefit of an insider under an employment contract and not in the ordinary course of business.
Answer
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Related questions
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C. $20,000 fine and five years' imprisonment.
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