N.Y. Debtor & Creditor Law § 273

* § 273. Conveyances by insolvent. Every conveyance made and every\nobligation incurred by a person who is or will be thereby rendered\ninsolvent is fraudulent as to creditors without regard to his actual\nintent if the conveyance is made or the obligation is incurred without a\nfair consideration.\n * NB Effective until April 4, 2020\n * § 273. Transfer or obligation voidable as to present or future\ncreditor. (a) A transfer made or obligation incurred by a debtor is\nvoidable as to a creditor, whether the creditor's claim arose before or\nafter the transfer was made or the obligation was incurred, if the\ndebtor made the transfer or incurred the obligation:\n (1) with actual intent to hinder, delay or defraud any creditor of the\ndebtor; or\n (2) without receiving a reasonably equivalent value in exchange for\nthe transfer or obligation, and the debtor:\n (i) was engaged or was about to engage in a business or a transaction\nfor which the remaining assets of the debtor were unreasonably small in\nrelation to the business or transaction; or\n (ii) intended to incur, or believed or reasonably should have believed\nthat the debtor would incur, debts beyond the debtor's ability to pay as\nthey became due.\n (b) In determining actual intent under paragraph one of subdivision\n(a) of this section, consideration may be given, among other factors, to\nwhether:\n (1) the transfer or obligation was to an insider;\n (2) the debtor retained possession or control of the property\ntransferred after the transfer;\n (3) the transfer or obligation was disclosed or concealed;\n (4) before the transfer was made or obligation was incurred, the\ndebtor had been sued or threatened with suit;\n (5) the transfer was of substantially all the debtor's assets;\n (6) the debtor absconded;\n (7) the debtor removed or concealed assets;\n (8) the value of the consideration received by the debtor was\nreasonably equivalent to the value of the asset transferred or the\namount of the obligation incurred;\n (9) the debtor was insolvent or became insolvent shortly after the\ntransfer was made or the obligation was incurred;\n (10) the transfer occurred shortly before or shortly after a\nsubstantial debt was incurred; and\n (11) the debtor transferred the essential assets of the business to a\nlienor that transferred the assets to an insider of the debtor.\n (c) A creditor making a claim for relief under subdivision (a) of this\nsection has the burden of proving the elements of the claim for relief\nby a preponderance of the evidence.\n * NB Effective April 4, 2020\n