Judge Grants Judgment To Reinsurer On Fraud Claims Against Shareholders

(July 8, 2019, 1:42 PM EDT) -- SAN DIEGO — In a fraudulent transfer case over a $3.2 million judgment, a California federal judge on July 2 granted summary judgment to a reinsurer on its Uniform Fraudulent Transfer Act (UFTA) claims brought under a theory of constructive fraud against its shareholders, finding no genuine issue of fact as to whether there was a transfer of the assets (Odyssey Reinsurance Co. v. Richard Keith Nagby, et al., No. 16-3038, S.D. Calif., 2019 U.S. Dist. LEXIS 111794)....