In Re Joseph B. Prejean, Debtor. Ursula Maddox v. Jerome E. Robertson

CANBY, Circuit Judge:

Before 1986, California- adhered to a version of the Uniform Fraudulent Conveyance Act. That Act provided in part that a conveyance was not constructively fraudulent if a debtor received a “fair consideration” for the conveyance. See former Cal.Civ.Code § 3439.04 (West 1970). The California Court of Appeal determined that the payment of an antecedent debt that is partially time-barred is “fair consideration.” See United States Fidelity & Guaranty Co. v. Postel, 64 Cal.App.2d 567, 149 P.2d 183, 186 (1944).

This appeal raises the question whether California’s recent adoption…