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insolvency, in and of itself, is insufficient to
support a finding that the transferee or obligee lacked
“good faith” as that term is used in this section. The
transferee’s or obligee’s knowledge of the transferor’s
insolvency may, however, in combination with the
transferee’s or obligee’s knowledge concerning other
facts, be relied upon as evidencing a lack of “good
faith” on the part of the transferee or obligee. [12
Pa. Cons. Stat. Ann. sec. 5108, cmt. 6.]
See also Tiab Communications Corp. v. Keymarket of NEPA, Inc.,
supra at 941.
Given the record, we do not believe that petitioner has
acted in good faith with respect to the conveyance at issue. It
is clear that Mr. Self, Jr., petitioner’s agent and 50-percent
owner, knew all the operative facts and circumstances underlying
the transfer of Self Oil’s assets. He was a former employee and
officer of Self Oil and pleaded guilty to criminal charges that
were based on factors that gave rise to the fuel excise tax
assessments. He testified that he knew about the assessments,
that Self Oil had appealed the assessments, that the criminal
investigations caused Self Oil’s line of credit to be frozen, and
that the outlook for the future of Self Oil was “bleak”. Mr.
Self, Jr., testified that before the sale, he sought advice on
how to acquire the business, he was in attendance at numerous
meetings and participated in telephone conferences with his
father and Self Oil’s attorneys concerning appealing the
assessments, and he “felt that the company was pretty much
doomed.” Nonetheless, the parties consummated a sale in which
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