The 2015 Kentucky General Assembly approved the Kentucky Uniform
Voidable Transactions Act, and it is now in effect. HERE IS A LINK to the new statute.
This Uniform Act, itself updating the Uniform Fraudulent
Transactions Act, brings Kentucky law into sync with the other
states that enact this Act. Also, based upon the significant
similarities between this Act and the predecessor Uniform
Fraudulent Transfers Act, greater consistency will be achieved with
the other states. In addition, in that the UVTA is meant to conform
to modern bankruptcy law, Kentucky law and that federal law will
now be more consistent.
Kentucky's now former statute on fraudulent transfers was
written in 1855 and was itself based upon the Statute of 13
Elizabeth, a statute composed during the reign of Elizabeth I
(i.e., the daughter of Henry VIII and Anne Boleyn). To say the
least the statute is archaic. Further, it is significantly out of
step with the fraudulent conveyance laws of most states
