(a) A debtor is insolvent if the sum of the debtor's debts is greater than all of the debtor's assets at a fair valuation.
(b) A debtor who is generally not paying his debts as they become due is presumed to be insolvent.
(c) A partnership is insolvent under subsection (a) of this section if the sum of the partnership's debts is greater than the aggregate, at a fair valuation, of all of the partnership's assets and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts.
(d) Assets under this section do not include property that has been transferred, concealed or removed with intent to hinder, delay or defraud creditors or that has been transferred in a manner making the transfer voidable under sections 52-552a to 52-552l, inclusive.
(e) Debts under this section do not include an obligation to the extent it is secured by a valid lien on property of the debtor not included as an asset.
(P.A. 91-297, S. 3.)
Notes of Decisions
Cendant Corp. v. Shelton, 473 F. Supp. 2d 307 (D. Conn. 2007).
· cites it 2× “The court notes that Connecticut General Statutes § 52-552c describes when a debtor is insolvent and that the definitions of the terms "Debt” and "Claim” are set forth in Connecticut General Statutes § 52-552b.”
TZOVOLOS v. Wiseman, 16 A.3d 819 (Conn. Super. Ct. 2007).
· cites it 2× “, was a member of Seawind, and that at the time the kitchen equipment was removed from Selden Street, Seawind was insolvent as that term is defined under General Statutes § 52-552c, and, therefore, the removal of the equipment was a fraudulent transfer.”
Roumeliotis v. Nordenson, No. 3:23-cv-01366 (D. Conn. July 15, 2024).
· cites it 2× “The definition of insolvency is codified in section 52-552c of the Connecticut Uniform Fraudulent Transfer Act (“CUFTA”).”
Cockerham v. Westphalen, 317 A.3d 166 (Conn. App. Ct. 2024).
· cites it 2× “’’ 9 The following exchange took place during the direct examination of Westphalen by the plaintiff’s counsel: ‘‘[The Plaintiff’s Counsel]: And with respect to—with respect to your own personal solvency, do you have the financial wherewithal to pay the fines that have been…”
Chem. Bank v. Dana, 234 B.R. 585 (D. Conn. 1999).
· cites it 2× “See Conn.Gen.Stat. § 52-552c(a) (“A debtor is insolvent if the sum of the debtor’s debts is greater than all of the debtor’s assets at a fair valuation.”
Conn. Gen. Stat. § 52-552c(a): 1 case
Chem. Bank v. Dana, 234 B.R. 585 (D. Conn. 1999).
“See Conn.Gen.Stat. § 52-552c(a) (“A debtor is insolvent if the sum of the debtor’s debts is greater than all of the debtor’s assets at a fair valuation.”
Conn. Gen. Stat. § 52-552c(d): 1 case
Roumeliotis v. Nordenson, No. 3:23-cv-01366 (D. Conn. July 15, 2024).
“The definition of insolvency is codified in section 52-552c of the Connecticut Uniform Fraudulent Transfer Act (“CUFTA”).”
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