(a) Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor’s business to furnish support to the debtor or another person.
(b) For the purposes of §§ 1304(a)(2) and 1305, a person gives a reasonably equivalent value if the person acquires an interest of the debtor in an asset pursuant to a regularly conducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition or disposition of the interest of the debtor upon default under a mortgage, deed of trust or security agreement.
(c) A transfer is made for present value if the exchange between the debtor and the transferee is intended by them to be contemporaneous and is in fact substantially contemporaneous.
70 Del. Laws, c. 434,
§
1;
Notes of Decisions
Burtch v. Seaport Capital, LLC (In re Direct Response Media, Inc.), 466 B.R. 626 (Bankr. D. Del. 2012).
“§ 548 (d)(2)(A); see also 6 Del. C. § 1303(a). The Trustee admits that the Debtor and Innovation were co-borrowers with OTMH as a guarantor, on the Amended CapSource Loan and that the Debtor was jointly and severally obligated on that indebtedness.”
United States v. West, 299 F. Supp. 661 (D. Del. 1969).
“Section 1303 requires *666 “fair consideration” which is deemed to be given “[w]hen in exchange for * * [the debtor’s] property, * * * as a fair equivalent therefor, and in good faith, property is conveyed or an antecedent debt is satisfied * * 6 Del.C. § 1303. Since “the…”
United States v. van der Horst, 270 F. Supp. 365 (D. Del. 1967).
“Title 6 Del.C. § 1303 prescribes the conditions under which fair consideration is given for property conveyed.”
— 6 Del. C. § 1303(a) — 3 cases
Burtch v. Seaport Capital, LLC (In re Direct Response Media, Inc.), 466 B.R. 626 (Bankr. D. Del. 2012).
“§ 548 (d)(2)(A); see also 6 Del. C. § 1303(a). The Trustee admits that the Debtor and Innovation were co-borrowers with OTMH as a guarantor, on the Amended CapSource Loan and that the Debtor was jointly and severally obligated on that indebtedness.”
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