N.Y. Debtor & Creditor Law § 273: Transfer or obligation voidable as to present or future creditor

§ 273. Transfer or obligation voidable as to present or future

creditor. (a) A transfer made or obligation incurred by a debtor is

voidable as to a creditor, whether the creditor's claim arose before or

after the transfer was made or the obligation was incurred, if the

debtor made the transfer or incurred the obligation:

(1) with actual intent to hinder, delay or defraud any creditor of the

debtor; or

(2) without receiving a reasonably equivalent value in exchange for

the transfer or obligation, and the debtor:

(i) was engaged or was about to engage in a business or a transaction

for which the remaining assets of the debtor were unreasonably small in

relation to the business or transaction; or

(ii) intended to incur, or believed or reasonably should have believed

that the debtor would incur, debts beyond the debtor's ability to pay as

they became due.

(b) In determining actual intent under paragraph one of subdivision

(a) of this section, consideration may be given, among other factors, to

whether:

(1) the transfer or obligation was to an insider;

(2) the debtor retained possession or control of the property

transferred after the transfer;

(3) the transfer or obligation was disclosed or concealed;

(4) before the transfer was made or obligation was incurred, the

debtor had been sued or threatened with suit;

(5) the transfer was of substantially all the debtor's assets;

(6) the debtor absconded;

(7) the debtor removed or concealed assets;

(8) the value of the consideration received by the debtor was

reasonably equivalent to the value of the asset transferred or the

amount of the obligation incurred;

(9) the debtor was insolvent or became insolvent shortly after the

transfer was made or the obligation was incurred;

(10) the transfer occurred shortly before or shortly after a

substantial debt was incurred; and

(11) the debtor transferred the essential assets of the business to a

lienor that transferred the assets to an insider of the debtor.

(c) A creditor making a claim for relief under subdivision (a) of this

section has the burden of proving the elements of the claim for relief

by a preponderance of the evidence.