The Delaware Court of Chancery, in Richard F. Burkhart, et al. v. Genworth Financial, Inc., et al., C.A. No. 2018-0691-JRS, opinion (Del. Ch. Jan. 31, 2020), found the Delaware Uniform Fraudulent Transfer Act provides a right of action before fraudulent transfers have fully dissipated protected assets, and insurance policy holders and insurance agents thus had standing to assert fraudulent transfer claims against an insurance company even though it had not failed to pay any claims or commissions.
NEW: Morris James discusses the decision in Court of Chancery Finds the Delaware Uniform Fraudulent Transfer Act Grants Standing for Insureds with Contingent, Unmatured Claims to Sue Insurers, but Dismisses Certain Claims as Time-Barred.
$$$ Law360 discusses the decision in Chancery Axes $395M Of Tardy Claims In Genworth Fraud Suit.