26
v. First Cadco Corp., 203 N.W.2d 770, 778-779 (Neb. 1973)
(decided under Neb. Rev. Stat. sec. 36-401 (reissue 1943));
Farmers State Bank v. Dierks, 289 N.W. 860, 866 (Neb. 1940)
(decided under Neb. Rev. Stat. sec. 36-401 (reissue 1929)).
Many of those badges of fraud are present here. Stanko had
a significant amount of tax liabilities and pending claims
against him when he transferred the note to petitioner.6 Three
days after Stanko's criminal conviction, Stanko Packing
distributed substantially all of its remaining assets to Stanko,
leaving it insolvent. Two days later, Stanko transferred the
Packerland note to petitioner for no consideration. The transfer
was between husband and wife, and was made without consideration
and as part of a series of transfers that greatly reduced
Stanko's estate. The transfer was made just before the District
Court for Colorado imposed criminal penalties and while the Giove
lawsuit was pending against Stanko.
Stanko filed an affidavit in November 1985 stating that he
was insolvent. We agree with petitioner that Stanko's affidavit
does not necessarily show that he was insolvent; however, it does
6 Stanko had the following claims pending against him when
he transferred the note to petitioner: Fines relating to his
criminal conviction by the District Court for Colorado (later
adjudged to be $70,000); claims made in the Giove lawsuit (later
adjudged to be $824,650); Stanko Packing's 1984 tax liability
(later adjudged to be $1,324,964); and Stanko's 1984 and 1985 tax
liability (later adjudged to be $961,134).
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