Perkins v. Haines

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that transfers must be made “in furtherance of the [Ponzi] scheme” to prove actual intent to defraud
• “[Section] 548(c) provides a transferee with an affirmative defense where the transferee acts in good faith.”
• “... no court has distinguished between equity investments and debt-based claims when applying the general rule to fraudulent transfer actions arising out of a Ponzi scheme”
• “With respect to Ponzi schemes, transfers made in furtherance of the scheme are presumed to have been made with the intent to defraud for purposes of recovering the payments under §§ 548(a) and 544(b).”
• “[T]he general rule is that a defrauded investor gives ‘value’ to the Debtor in exchange for a return of the principal amount of the investment, but not 23 as to any payments in excess of principal.”
• “Any transfers over and above the amount of the principal—i.e., for fictitious profits—are not made for ‘value’ because they exceed the scope of the investors’ fraud claim and may be subject to recovery by a plan trustee.”

Source: CourtListener parenthetical corpus (CC0).