What’s a clawback claim?

Minneapolis Bankruptcy attorney Steven Silton define’s a clawback claim.

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Phone: (612) 260-9003

Transcript:

A clawback claim is kind of a general claim that includes both preferential payments and fraudulent conveyance payments, which essentially are claims – that payments that have been made without what’s called adequate consideration. Clawback claims have received a lot of attention lately due to the proliferation of Ponzi schemes, both locally with debtors, Ponzi scheme nationally with the Madoff and regionally throughout the country.

The trustees of those estates have commenced what has been euphemistically called the clawback claim against anyone who’s received payments from those Ponzis, and essentially asked to recover all moneys that have been paid out, even money that’s been paid out pursuant to existing financial contracts back into the estate.