THE CONCEPT OF ASSET PROTECTION includes the possibility of placing title in certain assets in the name of a less vulnerable spouse or other family members, or a legal entity. One should be very attentive in transferring title without an open invitation to a “fraudulent transfer” claim against the asset transferred or the possibility of death by the spouse or family member, or possible dissolution of the marriage, or a court judgment.
ASSET PROTECTION: PLACING TITLE OF ASSETS IN ANOTHER LEGAL ENTITY
WHAT IS FRAUDULENT CONVEYANCE?
This Asian country has attracted the attention of major car manufacturers to invest in the country. Different car companies have already entered into partnerships with Indian car manufacturers. Renault is one of these car manufacturers by virtue of their collaboration with Mahindra & Mahindra Ltd. which has resulted to the production of the Logan sedan in India.
Aside from Renault, another global car manufacturer, in fact the largest car manufacturer in the world, has expressed their plans to increase their presence in the Indian automobile market.
As far as buying parts from India is concerned, the company expects an increase of at least five times compared to current sourcing figures. This five-fold increase is expected to take place within the next couple of years.
“With India growing its domestic industry, it is going to increase the possibility of India exporting more,” says Wagoner. These planned and speculated expansions for General Motors in India may signal the rise of a huge exporter of automobiles. Although the country can serve as their production facility for vehicles to be exported to other countries, Wagoner stressed that there are problems if the company takes that decision. “I don’t rule out that products may be shipped to other centers, but there are exchange rate risks, and you can get different types of trade issues,” Wagoner said.
At the press conference, Wagoner said that he expects India to become the second fastest-growing auto market in the world over the next decade. “Half of the population is under 25 years, so there’s a lot of potential buyers for everything,” says the CEO of General Motors. Wagoner’s expectation is backed by auto experts who have predicted that annual passenger car sales in India will increase to 2 million units per year by the year 2010. Reasons cited for this projected increase are increased income and new vehicles that will be offered by car manufacturers in the Indian auto market.
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