Travis is the life of the party.  He is fun to be around but…

Travis is the life of the party.  He is fun to be around but never takes anything seriously.  He has not decided to go to college or to get a meaningful job.  He has no close friendships and has not had a serious romantic relationship.  He seems happy to just live day to day without thinking of such matters.  Travis is probably in shich stage of identity?

Flanders Fraud set up a corporation named the Fraud Foundati…

Flanders Fraud set up a corporation named the Fraud Foundation, Inc. to operate a “ponzi” scheme. Under the scheme, Flanders would promise extremely high returns in order to persuade investors to invest their life savings with the Fraud Foundation. In order to keep the scheme going, the Fraud Foundation would use the money from later investors to pay off the earlier investors. Ultimately the scheme collapsed and the defrauded investors filed separate class actions against both Flanders and the Fraud Foundation in state court. The Fraud Foundation suit has not yet been set for trial. The suit against Flanders did go to trial and the jury found that Flanders had engaged in fraud and awarded damages against him and in favor of the investor plaintiffs. Flanders transferred various properties and cash from the Fraud Foundation to his wife, Edna, 6 months before bankruptcy. The total amount of the property and cash is estimated to be $1.5 million. The Chapter 7 trustee will likely:

For certain purposes, especially when looking at transfers t…

For certain purposes, especially when looking at transfers that the debtor may have made before filing his or her bankruptcy, we classify some transferees (people who received the transfers) differently becaude they have an especially close relationship with the debtor. We call these people who are close to the debtor insiders. Which of these is not an insider under Bankruptcy Code §101(31)?