Klein v. King & King & Jones: Tenth Circuit Clarifies UFTA's Good Faith and Subsequent Transferee Defenses | Practical Law
The US Court of Appeals for the Tenth Circuit, in Klein v. King & King & Jones, affirmed a district court decision that held that a transferee was unable to assert a good faith defense to a fraudulent transfer action under the Uniform Fraudulent Transfer Act (UFTA) despite having acted in good faith because it provided reasonably equivalent value to a third party instead of to the debtor.