Issue: Under Minnesota law, when is a debtor insolvent?
|Area of Law:||Bankruptcy & Creditors Rights|
|Keywords:||A debtor; Insolvent|
|Cited Statutes:||Minn. Stat. § 513.42; UFTA § 2|
Minn. Stat. § 513.42 describes the circumstances constituting “insolvency”: “(a) A debtor is insolvent if the sum of the debtor’s debts is greater than all of the debtor’s assets, at a fair valuation. (b) A debtor who is generally not paying debts as they become due is presumed to be insolvent.” Minn. Stat. § 513.42; see also UFTA § 2 (same).