Issue: Under Minnesota law, when is a debtor insolvent?
| Area of Law: | Bankruptcy & Creditors Rights |
| Keywords: | A debtor; Insolvent |
| Jurisdiction: | Federal, Minnesota |
| Cited Cases: | None |
| Cited Statutes: | Minn. Stat. § 513.42; UFTA § 2 |
| Date: | 01/01/2013 |
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).
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