Question #1: In a voidable transaction case, if the transferee is completely innocent and knows nothing of the fraudulent transfer, can the creditor still recover against the transferee? Question #2: If an entity makes a tax payment to the IRS for its members, as required by its governing document (such as an operating agreement, partnership agreement, etc. Here are the facts: FOR1031 LLC was indebted to investors for its part in misrepresentations made by affiliated persons in a deal gone bad. After the liability has arisen, FOR1031 LLC made a $14.115 million tax payment to the IRS to satisfy the estimated tax liability of one of its ultimate beneficial owners, Douglas L. Swenson. Included in this estimated tax payment was a sizeable overpayment of $3.6 million, which the IRS later refunded to FOR1031 LLC's members.

Source: Forbes January 26, 2017 23:23 UTC