(a) In an action for relief against a transfer or obligation under sections 52-552a to 52-552l, inclusive, a creditor, subject to the limitations in section 52-552i, 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 in accordance with the procedure prescribed by chapter 903a; (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.
(P.A. 91-297, S. 8.)
Plain language of section demonstrates that Uniform Fraudulent Transfer Act was enacted specifically to expand range of a creditor's remedies beyond the common-law property and proceeds rule; section does not vest court with unfettered discretion to award damages to creditors who have failed to avail themselves of all the protections afforded under the act. 266 C. 1.
Cited. 46 CA 199.
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