What Can a Court Do?
Courts in Texas can Remedy a Fraudulent Transfer
A court has flexibility to fashion a judgment to remedy the wrong. A list of those things a court can do to correct the situation is as follows:
1. It may vacate the fraudulent transfer.
2. Enter an order to sell the fraudulently transferred asset.
3. Enter a TRO/temporary injunction to affect the fraudulently transferred asset.
4. Appoint a receiver over the asset.
5. Enter a judgment against the person who received the fraudulently transferred asset.
6. Virtually any other relief that is appropriate to the court under the facts of the case. The court has wide latitude to decide how to repair the situation created by the fraudulent transfer.
7. Award court costs and reasonable attorney’s fees. Tex. Bus. & Com. Code §24.013.