Jim Salazar Is the Majority Shareholder of XYZ Co

question 10

Multiple Choice

Jim Salazar is the majority shareholder of XYZ Co.XYZ Co.filed for Chapter 11 Bankruptcy on January 1,2008.Which of the following would be considered a fraudulent transfer?

• A)Transfer of land to Jim's sister Alice on July 1,2006,with the intent to place the land beyond the reach of creditors.
• B)Sale of inventory at regular price to a new customer on February 15,2008.
• C)Transfer of fixed assets to Jim's brother John on December 15,2007,with the intent to place the fixed assets beyond the reach of creditors.
• D)Transfer of inventory to a subsidiary for less than fair value on August 1,2006.
• E)Two of the above

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