Florida/Georgia Personal Injury & Workers Compensation

...erty 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. Fla. Stat. § 726.104(1)....

...state law fraudulent transfer claims asserted by the Trustee are moot and will not be addressed. IV. THE TRANSFER OF THE MEMBERSHIP IS NOT VOIDABLE UNDER § 726.106(1) OR § 726.105(1)(b) BECAUSE THE DEBTOR RECEIVED REASONABLY EQUIVALENT VALUE UNDER § 726.104(1)....

...Because Levenson has stipulated that the Debtor was insolvent at the time of the transfer of the Membership, the Court's analysis under these claims is limited to whether the Debtor received reasonably equivalent value in exchange for the transfer. Section 726.104(1) specifically defines value to include the satisfaction of an antecedent debt....

...ion without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor was insolvent at the time or the debtor became insolvent as a result of the transfer or obligation. See Fla.Stat. § 726.106(1) (1997). [5] Section 726.104 defines "Value" as: (1) 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. See Fla.Stat. § 726.104(1) (1997)....

...f the debtor.” 11 U.S.C. § 548 (d)(2)(A). Under Florida law, “[v]al-ue 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.” Fla. Stat. § 726.104 ....

...OTDC maintains that at the time the Letter Agreement was signed, the yalue of the Debtor's interest in future real estate commissions was speculative at best. OTDC argues further that the transfer was intended to be, and was, a contemporaneous exchange for present value pursuant to Fla. Stat. § 726.104(3)....

...ablish that the Trustee took for less than a reasonably equivalent value. 1. Reasonably Equivalent Value Because the reasonably equivalent value issue is common to all three of the fraudulent transfer claims, the Court will first address that issue. Section 726.104(1), Florida Statutes, states, in part, that 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 satis- fied_(emphasis supplied)....

...Despite this lengthy recitation of the value given by the Trustee and the Synectic Funds, Plaintiffs argue that there was little value provided because the underlying judgments against Berkman were worthless and uncollectible. But the satisfaction of those judgments constitutes value under Fla. Stat. § 726.104 (1) as a matter of law because legitimate, non-illusory antecedent debts were satisfied....

...voidable under this sec *1330 tion “[t]o the extent the insider gave new value to or for the benefit of the debtor after the transfer was made unless the new value was secured by a valid lien.” Fla. Stat. § 726.109 (6)(a). Under Florida Statute Section 726.104(1), “[v]alue is given for a transfer ......

...ayments were made with the specific intent to hinder, delay, or defraud creditors, the theory under Fla. Stat. § 726.105(a). Thus, the viability of the Debtor's claim must be tested on the standard of "reasonable equivalent value." While Fla. Stat. § 726.104, generally defines what value is, what is "reasonable equivalent value," under the case law, should be based on the specific facts and circumstances relevant to the transaction....

...6-1 of Safe Harbor Employer Services Retirement Plan and Claim Nos. 7-1 and 8-1 of Choice Plus HRA & Buy Up Medical Plans. The lists of unsecured creditors prepared and filed by Ms. Welch in each of the Corporate Debtors' cases, consisting of over 300 creditors, are virtually identical. Fla. Stat. § 726.104 (1)....

...71 *496 This rationale certainly applies to funds that were deposited into Debtor's account and were not used to cover the Overdrafts. And to the extent that the Transfer Deposits were used to repay Overdrafts, the satisfaction of that indebtedness constitutes reasonably equivalent value. Section 726.104 and 11 U.S.C....

...at 807-808 (emphasis supplied) (internal citations omitted). See, e.g. United States v. Asher , 59 F.3d 622 (7th Cir. 1995) ; United States v. Rackley , 986 F.2d 1357 , 1361 (10th Cir. 1993). 871 F.Supp. 1404 (D. Kan. 1994). Id. at 1409 . Doc. No. 494, p. 10. Fla. Stat. § 726.104 ....

...For the purposes of this section, “value” is defined as “property, or satisfaction or securing of a present or antecedent debt of the debtor, but does not include an unperformed promise to furnish support to the debtor or to a relative of the debtor.” 11 U.S.C. § 548 (d)(2)(A); see also Fla. Stat. § 726.104 (1)....

...As to whether a debtor received value, a court will determine whether the debtor received “property, or satisfaction or securing of a present or antecedent debt of the debtor,” Id. at *16 , citing to 11 U.S.C. § 548 (d)(2)(A). Pursuant to Florida Statute § 726.104(3), if the transaction between the debtor and transferee “is intended by them to be contemporaneous and is, in fact, substantially contemporaneous,” the transaction is made for present value....

...As to whether a debtor received value, a court will determine whether the debtor received “property, or satisfaction or securing of a present or antecedent debt of *875 the debtor.” Id. at *16 , citing to 11 U.S.C. § 548 (d)(2)(A). As provided by Florida Statute § 726.104(3), if the transaction between the debtor and transferee “is intended by them to be contemporaneous and is, in fact, substantially contemporaneous,” the transaction is made for present value....

...Doc. No. 11 in Adversary Proceeding No. 9-ap-00318; Doc. No. 12 in Adversary Proceeding No. 9-ap-00135; Doc. No. 12 in Adversary Proceeding No. 9-ap-00231. . 11 U.S.C. § 548 (a)(1)(B). . E.g., Doc. No. 12, Exhibit A in Case No. 9-ap-231. . Fla. Stat. § 726.104 ; 11 U.S.C....

...According to Synovus, [t]he first element necessary for both types of constructive fraud claims is a failure to exchange reasonably equivalent value for a transfer. Fla. Stat. §§ 726.105 (l)(b)[,] 726.106(1). Value is given for a transfer when property is transferred or an antecedent debt is satisfied. Fla. Stat. § 726.104 (1)....

...OTDC maintains that at the time the Letter Agreement was signed, the value of the Debtor’s interest in future real estate commissions was speculative at best. OTDC argues further that the transfer was intended to be, and was, a contemporaneous exchange for present value pursuant to Fla. Stat. § 726.104 (3)....

...That John claimed insolvency as the reason he failed to pay child support was not an issue in dispute. Jeff next claims that the trial court erred in finding that his promise to pay 25% of future royalties from the aeronautical invention was an “unperformed promise” within the meaning of section 726.104(1), Florida Statutes (2006)....

...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.” § 726.104(1), Fla....

...(2006). As to the second aspect of the section 726.106(1) equation, Jeff gave no money or property in exchange for the $120,000 airplane. The promise of 25% of the future royalties of the invention was an “unperformed promise” within the meaning of section 726.104(1); there had been no sales of the invention, no projected sales and Jeff was a less than credible proponent of the invention’s prospects for generating future revenue....

...Moreover, distribution of the invention required FAA approval, which was, at best, uncertain. The potential of future royalties was uncertain and unfixed, two qualities that render an “unperformed promise” insufficient to qualify as “value given for a transfer” under section 726.104(1)....

...We find no merit as to the remaining issue and affirm the judgment of the trial court. WARNER and TAYLOR, JJ., concur. . This case does not fall under the exception to the “unperformed promise’’ rule, in that Jeff's promise of future royalties was not a promise to furnish support for his father or "another person.” § 726.104(1), Fla....

relieved the Asseos from their burden of debt. Section 726.104(1) states that “[v]alue is given for a transfer

...value or against any subsequent transferee or obligee.” § 726.109(1), Fla. Stat. (2017). “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[.]” § 726.104(1), Fla....