Community & Southern Bank v. Lovell

Summary

The court held that creditors could not use the UFTA to avoid a transfer of corporate property based solely on the corporation's ownership by the debtor. It also held that a plaintiff may withdraw fewer than all claims by amending the complaint before a pretrial order, making dismissal of the withdrawn claims unauthorized. The court rejected the trial court's categorical conclusion that the FDIC Extender Statute could not preempt a statute of repose, reversed dismissal of the remaining UFTA claim for reconsideration, and reinstated derivative damages claims. No separate opinions were filed.