Miller v. First Bank

GEER, Judge.

William P. Miller, as the Receiver for Rose Furniture Company (“Rose Furniture”), filed this action seeking to void payments made by E. F. Merrell Company, L.L.C. (“E. F. Merrell”) — with money received from Rose Furniture — to First Bank to reduce the debt on a loan made by First Bank to the third-party defendants, Robert L. Kester, William V. Kester, Jr., and Edgar F. Merrell. The Receiver contends that the E. F. Merrell payments were constructively fraudulent under the Uniform Fraudulent Transfer Act, N.C. Gen. Stat. §§ 39-23.1 through 39-23.12 (2009) (“UFTA”). We hold that the…