Partner James Gadsden was the chair of a subcommittee of the Committee on Commercial and Uniform State Laws of the New York City Bar that prepared the City Bar’s report recommending that New York enact the Uniform Voidable Transactions Act (“UVTA”), which became law in April of 2020. The UVTA was promulgated in 2014 by the Commissioners on Uniform State Laws in place of the prior Uniform Fraudulent Conveyance Act that was enacted in New York in 1925.
With Alan Kolod, Mr. Gadsden prepared the Supplemental Practice Commentaries to the statute which has been codified as Article 10 of the Debtor and Creditor Law. The Practice Commentaries, published in Thomson Reuters McKinney’s Statutes, provide practitioners with an explanation of operation of provisions of the new statute background on its enactment and the changes from prior law.