Fifth Circuit Vacates Golf Channel Opinion and Seeks Guidance from Texas Supreme Court

On June 30, 2015, the Fifth Circuit vacated its March 11, 2015 opinion in the Golf Channel case and asked the Texas Supreme Court for guidance regarding the meaning of “reasonably equivalent value” as that term is used in the Texas Uniform Fraudulent Transfer Act. Briefing in the Texas Supreme Court will begin on September 16, 2015. The Fifth Circuit case is stayed pending completion of the proceedings in the Texas Supreme Court.

For a copy of the Fifth Circuit’s order, click here

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