1. Cf., K.-P. Kirchhof, in Münchener Kommentar zur Insolvenzordnung, Vol. 2, 2nd edn. (Munich, Beck 2003) § 129(2). For a detailed discussion of fraudulent transfer law in the United States, see D.G. Baird and T. H. Jackson, ‘Fraudulent Conveyance Law and its Proper Domain’, 38 Vanderbilt Law Review (1985) p. 829 at p. 829.
2. The badges of fraud originate from Twyne’s case, Attorney General v. Twyne, 3 Coke 80b, 76 Eng. Rep. 809 (Star Chamber 1601). See also, e.g., United States v. Gleneagles Investment Co., 565 F. Supp. 556, at p. 581 et seq. (equating intention to hinder and delay with debtor’s knowledge of its poor financial condition).
3. See the insolvency test in s. 101(32) BC, which states that insolvency is a financial condition such that the sum of an entity’s debts is greater than all of that entity’s property, at a fair valuation.
4. Covey v. Commercial National Bank, 960 F. 2d 657 (7 Cir. 1992) at p. 660 et seq.; D.G. Baird, Elements of Bankruptcy, 3rd edn. (New York, Foundation Press 2001) p. 135 et seq.
5. BGH 18 April 1991, NJW 1991 p. 2144 at p. 2145; BGH 2 April 1998, ZIP 1998 p. 830 at p. 835.