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In re Atlantis Plastics, BK 08-75473, Doc/ #11

Watson, Ch. 7 Trustee v. Powell, et. al. - Adversary Proceeding No.: 10-6349-PWB, 
Chapter 7 Trustee’s amended complaint seeks to recover allegedly fraudulent transfers and the Defendants moved to dismiss it for failure to state a claim on which relief can be granted because it did not allege existence of creditor with a claim arising prior to transfers.  O.C.G.A. § 18-2-74(a)(2)(A) permits a post-transfer creditor to avoid, as constructively fraudulent, a transfer for less than reasonably equivalent value that occurs when the debtor was engaged or was about to engage in a business or transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction.  Motion to dismiss denied.
NOT INTENDED FOR PUBLICATION

File: 
Date: 
04/01/2011