the amount that will be required to pay his probable liability on his existing debts as they become absolute and matured.” DCL § 271(1). Significantly, however, “[o]nly assets with a present salable value are taken into consideration in determining insolvency. Claims that are inchoate, uncertain, and contested have no present value and cannot be considered' an asset of the [transferor],” First Keystone Consultants, Inc. v. Schlesinger Elec. Contractors, Inc., 871 F.Supp.2d 103, 120 (E.D.N.Y.2012) (internal quotation marks omitted); see also, e.g., Morgan Guar. Trust Co. v. Hellenic Lines Ltd., 621 F.Supp. 198, 220 (S.D.N.Y.1985) (“It is the fair saleable value of assets, not their book value, that determines insolvency.”); Ede v. Ede, 193 A.D.2d 940, 598 N.Y.S.2d 90, 92 (3d Dep’t 1993) (<HOLDING>). “To be ‘salable’ an asset must have ‘an
recognizing that distributees interest to estate property is subject to divestment until estate is closed holding that the nature of the taxpayers legal interest in the subject property is determined by reference to state law holding that interest subject to a life estate is an interest so inchoate uncertain and contingent in nature as to clearly lack a present fair salable value holding that any property in which the taxpayer has any right title or interest is subject to foreclosure proceeding including property in which others claim an interest so long as all persons having liens or claiming any interest in the property are joined as parties to the suit holding that a broadcasting license was property of the estate but not subject to a security interest