A. In an action for relief against a transfer or obligation under the Uniform Voidable Transactions Act, a creditor, subject to the limitations in Section 56-10-22 NMSA 1978, may obtain:
(1) avoidance of the transfer or obligation to the extent necessary to satisfy the creditor's claim;
(2) an attachment or other provisional remedy against the asset transferred or other property of the transferee if available under applicable law; and
(3) subject to applicable principles of equity and in accordance with applicable rules of civil procedure:
(a) an injunction against further disposition by the debtor or a transferee, or both, of the asset transferred or of other property;
(b) appointment of a receiver to take charge of the asset transferred or of other property of the transferee; or
(c) any other relief the circumstances may require.
B. If a creditor has obtained a judgment on a claim against the debtor, the creditor, if the court so orders, may levy execution on the asset transferred or its proceeds.
History: Laws 1989, ch. 382, § 8; 2015, ch. 54, § 16.
ANNOTATIONSThe 2015 amendment, effective January 1, 2016, substituted "Uniform Voidable Transactions Act" for references to the former Uniform Fraudulent Transfer Act; in the catchline, changed "creditors" to "creditor"; in Subsection A, after "Uniform", deleted "Fraudulent Transfer" and added "Voidable Transactions", after "Section", deleted "9 of that act" and added "56-10-22 NMSA 1978"; and in Subsection A, Paragraph (2), after "transferee", deleted "in accordance with procedures prescribed b law; or" and added "if available under applicable law; and".
Bankruptcy trustee entitled to avoid transfers. — Because the bankruptcy debtors made transfers with the actual intent to hinder, delay or defraud the judgment creditors, the trustee was entitled to avoid the transfers effected by the 1991 quitclaim deed and the 1992 recording of the assignment. Mazer v. Jones, 184 Bankr. 377 (Bankr. D.N.M. 1995).