Gowan v. The Patriot Group, LLC (In re Dreier LLP), Adv. Proc. No. 10-03524 (Bankr. S.D.N.Y. June 16, 2011)

Southern District of New York Bankruptcy Judge Martin Glenn issued the following 90 page opinion addressing defendants’ motions to dismiss on multiple grounds. Of particular significance is the Court’s holdings with respect to the applicability of the “Ponzi scheme presumption” to actual fraudulent conveyance claims under § 548(a)(1)(A); the lack of a “mutual fraudulent intent” requirement under NYDCL § 276; the inability of the Trustee to pursue claims for  constructive fraudulent conveyance under § 548(a)(1)(B) as to repayment of  investor principal; and the inability of the Trustee to pursue  constructive fraudulent conveyance claims under the NYDCL where repayment satisfied an antecedent debt.