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HOMETOWN 2006-1 v. PRIME INCOME ASSET

No. 15-10881.

847 F.3d 302 (2017)

HOMETOWN 2006-1 1925 VALLEY VIEW, L.L.C., Plaintiff-Appellant v. PRIME INCOME ASSET MANAGEMENT, L.L.C.; Prime Income Asset Management, Incorporated; Income Opportunity Realty Investors, Incorporated; American Realty Investors, Incorporated; Transcontinental Realty Investors, Incorporated; Pillar Income Asset Management, Incorporated; Steven A. Shelley; Daniel J. Moos; Gene S. Bertcher; Louis J. Corna, Defendants-Appellees

United States Court of Appeals, Fifth Circuit.

Filed February 3, 2017.

Attorney(s) appearing for the Case

Christopher Lyn Chauvin , Attorney, Alexander Tobias Dimock , Matthew Miles Mitzner , Richard Barrett Phillips, Jr. , Douglas Robert Salisbury , Thompson & Knight, L.L.P., Dallas, TX, for Plaintiff-Appellant.

Jonathan Jay Cunningham , Senior Attorney, Charles Gregory Shamoun , Shamoun & Norman, L.L.P., Farmers Branch, TX, for Defendants-Appellees Prime Income Asset Management, L.L.C., Prime Income Asset Management, Incorporated.

Mitchell Madden , Dennis Matthew Holmgren , Melissa Ann Johnson , Holmgren Johnson : Mitchell Madden, L.L.P., Dallas, TX, for Defendants-Appellees Income Opportunity Realty Investors, Incorporated, American Realty Investors, Incorporated, Transcontinental Realty Investors, Incorporated, Pillar Income Asset Management, Incorporated, Steven A. Shelley, Daniel J. Moos, Gene S. Bertcher, Louis J. Corna.

Before HIGGINBOTHAM, DENNIS, and CLEMENT, Circuit Judges.

The question posed is whether contractual payments due during a required sixty-day notice period prior to termination of contractual rights here constitute "assets" under the Texas Uniform Fraudulent Transfer Act's broad definition. We are persuaded that they do and reverse dismissal of the TUFTA claims and...

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