U.S. Code » Title 28 » Part PART VI— PARTICULAR PROCEEDINGS › Chapter CHAPTER 176— FEDERAL DEBT COLLECTION PROCEDURE › Subchapter SUBCHAPTER D— FRAUDULENT TRANSFERS INVOLVING DEBTS

28 U.S.C. § 3302

Insolvency

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(a)In General.—Except as provided in subsection (c), 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)Presumption.—A debtor who is generally not paying debts as they become due is presumed to be insolvent.(c)Calculation.—A partnership is insolvent under subsection (a) if the sum of the partnership’s debts is greater than the aggregate, at a fair valuation, of—(1) all of the partnership’s assets; and(2) the sum of the excess of the value of each general partner’s non-partnership assets over the partner’s non-partnership debts.(d)Assets.—For purposes of this section, assets do not include property that is 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 this subchapter.(e)Debts.—For purposes of this section, debts do not include an obligation to the extent such obligation is secured by a valid lien on property of the debtor not included as an asset.(Added Pub. L. 101–647, title XXXVI, § 3611, Nov. 29, 1990, 104 Stat. 4961.)Statutory Notes and Related SubsidiariesEffective Date

Section effective 180 days after Nov. 29, 1990, and applicable with respect to certain actions for debts owed the United States pending in court on that effective date, see section 3631 of Pub. L. 101–647, set out as a note under section 3001 of this title.

Notes of Decisions
Cited in 27 cases (9 in the last 5 years), 1996–2026 · leading case: Freeland v. Enodis Corp., 540 F.3d 721 (7th Cir. 2008).
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Freeland v. Enodis Corp., 540 F.3d 721 (7th Cir. 2008). “Code § 32-18-2-12; 28 U.S.C. § 3302 . Before the bankruptcy and district courts, Enodis contended that the Notes represented contingent liabilities.”
United States v. Schippers, 982 F. Supp. 2d 948 (S.D. Iowa 2013). · cites it 2× “Insolvency at the Time of or Shortly After the Transfers: Section 3304(b)(2)(I) A debtor is “insolvent” under 28 U.S.C. § 3302 (a) “if the sum of the debtor’s debts is greater than all of the debtor’s assets at *970 a fair valuation,” and the debtor is “presumed insolvent if he…”
United States v. Sherrill, 626 F. Supp. 2d 1267 (M.D. Ga. 2009). · cites it 2× “Under 28 U.S.C. § 3302 (a), a debtor becomes insolvent when "the sum of the debt- or’s debts is greater than all of the debtor’s assets at a fair valuation.”
Johnson v. United States, 79 Fed. Cl. 769 (Fed. Cl. 2007). “1 ¶ 5 (referencing 28 U.S.C. §§ 3302 , 3304), mandate payment to plaintiff such that Tucker Act jurisdiction exists in this court.”
Gordon v. Sec. Essentials, Inc. (In re Alpha Prot. Servs., Inc.), 570 B.R. 897 (Bankr. M.D. Ga. 2017). · cites it 2× “See 28 U.S.C. § 3302 (b) (“A debtor who is generally not paying debts as they become due is presumed to be insolvent.”
Sergeant v. OneWest Bank, FSB (In re Walter), 462 B.R. 698 (Bankr. D. Iowa 2011). “2 (4); 28 U.S.C. § 3302 ; 11 U.S.C. § 101 (32)(A).”
Gordon v. Hackenberry (In re Alpha Prot. Servs., Inc.), 570 B.R. 914 (Bankr. M.D. Ga. 2017). · cites it 3× “” 28 U.S.C. § 3302 (a). However, a debtor is presumed insolvent if it “is generally not paying debts as they become due.”
In Re Phillips & Hornsby Litig., 306 F. Supp. 2d 631 (M.D. La. 2004). “6 Analysis The USA contends that Chaney Phillips’s conveyance of his interest in the Hornsby succession to his sons constitutes a fraudulent transfer within the meaning of the Federal Debt Collections Procedures Act (“FDCPA”), 28 U.S.C. § 3302 et. seq. The FDCPA provides the…”
In Re: Phillips &, 204 F. App'x 398 (5th Cir. 2006). “When it discovered Phillips’s gift, the government brought this action, alleging that the conveyance constituted a fraudulent transfer under the Federal Debt Collection Practices Act (“FDCPA”), 28 U.S.C. § 3302 et seq., which permits the government to avoid “transferís] or obli…”
United States v. Lombardi, 924 F. Supp. 361 (D.R.I. 1996). “28 U.S.C. § 3302 . Here, as already noted, in 1992 Lombardi informed his probation officer that he had no assets.”
United States v. Furnari, 73 F. Supp. 3d 877 (E.D. Mich. 2014). · cites it 2× “” 28 U.S.C. § 3302 (a). There is a presumption of insolvency when a debtor generally does not pay his debts as they become due.”
Gordon v. Rogich (In re Alpha Prot. Servs., Inc.), 593 B.R. 364 (Bankr. M.D. Ga. 2018). · cites it 2× “APS's financial statements showed positive cash flows and considerable equity, A reviewed 2010 financial statement created on April 18, 2011 listed $2,997,309 in shareholder's equity.”
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