IN RE SMITH

No. 15-1166.

811 F.3d 228 (2016)

IN RE Keith SMITH and Dawn Smith, Debtors. Keith Smith and Dawn Smith, Plaintiffs-Appellants, v. SIPI, LLC, and Midwest Capital Investments, LLC, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided January 20, 2016.


Attorney(s) appearing for the Case

Arthur G. Jaros, Jr. , Oak Brook, IL, for Detors and Plaintiffs-Apellants.

Harold Louis Moskowitz , Michael Benjamin Bregman , Scott Curtis Nelson, Ruff, Freud, Breems & Nelson, Ltd., Chicago, IL, for Defendants-Appellees.

Before BAUER, WILLIAMS, and HAMILTON, Circuit Judges.


Federal bankruptcy law provides generally that a sale or other transfer of an insolvent's property may be set aside as fraudulent if the transfer was for less than "reasonably equivalent value." 11 U.S.C. § 548(a)(1)(B). In this appeal, we apply this general rule to a lawfully conducted sale of real estate under Illinois...

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