Posts Categorized: Fraudulent Conveyance

Posted: June 25, 2018

Insolvent Party’s Transfer of Property to Insider Not Improper Where Insider is Secured Creditor

On June 19, 2018, Justice Schecter of the New York County Commercial Division issued a decision in Englander Capital Corp. v. Zises, 2018 NY Slip Op. 28185, holding that an insolvent party’s transfer of property to an insider was not a fraudulent conveyance because the insider was a secured party, explaining, New York’s Debtor and… Read more »

Posted: April 18, 2018

Fraudulent Conveyance Claim Dismissed For Failure to Plead with Particularity

On April 10, 2018, the First Department issued a decision in Carlyle, LLC v. Quik Park 1633 Garage LLC, 2018 NY Slip Op. 02436, dismissing a fraudulent conveyance claim for failure to plead the claim with particularity, explaining: The actual fraudulent conveyance claims, under the common law and Debtor and Creditor Law (DCL) § 276,… Read more »

Posted: January 1, 2018

Allegations of Badges of Fraud Sufficient to Support Actual Fraudulent Conveyance Claim

On December 14, 2017, Justice Scarpulla of the New York County Commercial Division issued a decision in Capital One Equipment Finance Corp. v. Corrigan, 2017 NY Slip Op. 32632(U), holding that allegations of badges of fraud are sufficient to support a claim for actual fraudulent conveyance, explaining: Capital One also sufficiently states a claim against… Read more »

Posted: January 6, 2017

Conveyances Fraudulent Under Debtor Creditor Law

On December 22, 2016, Justice Kornreich of the New York County Commercial Division issued a decision in Wimbledon Financing Master Fund, Ltd. v. Wimbledon Fund, SPC, 2016 NY Slip Op. 32556(U), granting summary judgment on fraudulent conveyance claims, explaining: In applying this summary judgment burden shifting standard to proceedings under the DCL, New York courts… Read more »

Posted: September 15, 2016

Fraudulent Conveyance Claim Against Arm’s Length Transaction OK Where Badges of Fraud Alleged

On September 8, 2016, the First Department issued a decision in 172 Van Duzer Realty Corp. v. 878 Education, LLC, 2016 NY Slip Op. 05957, holding that a plaintiff stated a claim for fraudulent conveyance despite that the complained of transaction was at arm’s length, explaining: The cause of action for actual fraudulent conveyance under… Read more »

Posted: May 7, 2016

Court Grants Fraudulent Conveyance Claim, Attorneys’ Fees, on Summary Judgment

On April 13, 2016, Justice Kornreich of the New York County Commercial Division issued a decision in Eastern Consolidated Properties, Inc. v. Lynbrook Sunrise Realty LLC, 2016 NY Slip Op. 30711(U), granting a fraudulent conveyance claim and attorneys’ fees on summary judgment, explaining: [The plaintiff] made the requisite prima facie showing. ECP submitted proof that… Read more »

Posted: October 4, 2015

Receipt of Salary from Transferee Insufficient to Render Defendant a Transferee

On October 1, 2015, the First Department issued a decision in Cantor Fitzgerald & Co. v. 8an Capital Partners Master Fund, L.P., 2015 NY Slip Op. 07046, holding that a corporate officer could not be deemed a recipient or beneficiary of a fraudulent transfer merely because he received a salary from the corporate transferee. In… Read more »

Posted: August 6, 2015

Debtor’s Transfer of Good Will To Newly-Formed Entity is Fraudulent Conveyance

On August 4, 2015, Justice Emerson of the Suffolk County Commercial Division issued a decision in All County Paving Corp. v. Darren Constr., Inc., 2015 NY Slip Op. 51144(U), granting summary judgment to the plaintiff on a fraudulent conveyance claim based on a judgment debtor’s transfer of the good will of its business to a… Read more »