What Is the Illinois Fraudulent Transfer Act and How Does It Protect Creditors?
Protecting What You Are Owed: A Creditor’s Guide to Illinois Asset Transfers Key Takeaways: The Illinois Fraudulent Transfer Act (740 ILCS 160/1 et seq.), the state’s adoption of the Uniform Fraudulent Transfer Act, protects creditors by letting them challenge transfers a debtor makes to keep assets out of reach. The central remedy is avoidance: the […]