Hullett v. Cousin

OPINION

RYAN, Justice.

¶ 1 Under Arizona’s Uniform Fraudulent Transfer Act (“UFTA”), a transfer “is fraudulent as to a creditor whose claim arose before the transfer” if, as a result of the transfer, the debtor becomes insolvent and the transfer was not made in exchange for “reasonably equivalent value.” Ariz.Rev. Stat. (“A.R.S.”) § 44-1005 (1994). The central issue in this case is whether an unknown, unasserted, and presumably time-barred claim rendered a partnership insolvent when the partnership transferred its assets. We hold that such a claim must be disregarded if found to be time-barred…