Sixth Circuit Trims Bank’s Good Faith Defense to Fraudulent Transfer Claims – Part II

The first part of this two-part article series discussed what constitutes a good-faith defense to a fraudu­lent transfer claim with an ini­tial examination of the recent Sixth Circuit opinion in Meoli v. Huntington Nat’l Bank. In the second part of this series, partner Michael Cook continues the analy­sis by focusing on sub-issues presented in Meoli, including the question of no­tice, the proper test of good faith and an analysis of whether banks may be considered “trans­ferees” with respect to ordinary bank deposits. In addition, he discusses a recent Ninth Circuit preference decision that offers a mistaken analysis of the transfer issue.