Protection for third parties acquiring assets in undervalued or preferential transactions limited by good faith, value and notice conditions. An order under sections 164 or 165 does not create rights against a person who acquired property in an undervalued transaction or require that person to pay the bankruptcy trustee, provided the interest or benefit was acquired in good faith, for value, without notice of undervalue or bankruptcy proceedings, and the acquirer was not an associate of the bankrupt; sums payable to the trustee under this provision are included in the bankrupt's estate.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Protection for third parties acquiring assets in undervalued or preferential transactions limited by good faith, value and notice conditions.
An order under sections 164 or 165 does not create rights against a person who acquired property in an undervalued transaction or require that person to pay the bankruptcy trustee, provided the interest or benefit was acquired in good faith, for value, without notice of undervalue or bankruptcy proceedings, and the acquirer was not an associate of the bankrupt; sums payable to the trustee under this provision are included in the bankrupt's estate.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
