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Access over workers' compensation decisions, including En Banc, Significant Panel Decisions, and writ-denied cases.

Case No. MISSING
Regular Panel Decision

Holt Construction Corp. v. Grand Palais, LLC

Holt Construction Corp. initiated an action against Grand Palais, LLC, Grand Palais Development, Inc., Platte River Insurance Company, and Howard Lepow, seeking to foreclose a mechanic’s lien, set aside fraudulent conveyances, and recover damages for diversion of trust assets. The Supreme Court initially ruled in favor of Holt on multiple causes of action. Defendants appealed, and Holt cross-appealed from portions of the judgment entered January 19, 2012. The appellate court dismissed certain appeals, modified the judgment by dismissing the seventh cause of action and portions of the twelfth and thirteenth causes of action related to Lien Law § 13 (5), and reversed the dismissal of claims against Howard Lepow for violations of Lien Law §§ 72 and 77, awarding judgment in favor of Holt against Lepow for $935,342.55. As modified, the judgment was affirmed with costs to the plaintiff.

Mechanic's LienFraudulent ConveyanceDiversion of Trust AssetsDebtor and Creditor LawLien LawAppellate ReviewJudgment ModificationNonjury TrialCorporate Officer LiabilityConstruction Contract
References
11
Case No. MISSING
Regular Panel Decision
Apr 29, 2014

Priestley v. Panmedix Inc.

Katherine Priestley, a judgment creditor of Panmedix, Inc., initiated a lawsuit to set aside a Security Agreement between Panmedix and a group of its creditors (Respondent Creditors) as a fraudulent conveyance under New York Debtor and Creditor Law. The Security Agreement, executed after Priestley's security interest expired, granted interests in Panmedix's assets to its insiders (officers, directors, shareholders, and their affiliates) and other creditors. The court found the agreement to be constructively fraudulent due to disproportionately small consideration (four months' forbearance) and actual fraud, evidenced by numerous "badges of fraud," including the close relationship between parties, the unusual nature of the transfer, and the transferor's awareness of Priestley's claim and inability to pay. The agreement preferentially treated a controlling group of shareholders and insiders to the detriment of Priestley. Consequently, the Court granted Priestley's motion for summary judgment and denied the respondents' motion, deeming the Security Agreement a fraudulent conveyance.

Fraudulent ConveyanceSummary JudgmentSecurity AgreementDebtor and Creditor LawNew York LawInsider TransactionsPreferential TreatmentUCC Financing StatementJudgment CreditorPanmedix Inc.
References
28
Case No. MISSING
Regular Panel Decision

Brown v. Riley (In Re Omni Mechanical Contractors, Inc.)

This bankruptcy case involves a trustee's complaint to recover funds from defendants Joel C. Riley and Power Management, Inc., on behalf of the debtor, Omni Mechanical Contractors, Inc. The trustee alleged misappropriation of corporate funds, fraudulent conveyances, and preferential transfers by Riley, a former officer and shareholder of Omni. The court found Omni to be insolvent following a stock repurchase transaction with Riley and Jones. The court ruled in favor of the trustee on several claims, including the recovery of $8,800 for misappropriated funds, $15,000 for the fraudulent transfer of a Mercedes, $38,000 for a fraudulent conveyance related to a shop building, and $6,600 and $12,000 for preferential transfers of vehicles. However, the court denied the trustee's claims for recovery related to a hunting trip, lost profits on the Power Management and Riceville shop projects, and Riley's salary withdrawals, concluding that these actions did not warrant recovery or were not unfair at the time of transaction.

Bankruptcy LawFraudulent ConveyancePreferential TransferInsider TransactionBreach of Fiduciary DutyCorporate InsolvencyStock RepurchaseAsset RecoveryDebtor-Creditor LawCorporate Governance
References
27
Case No. MISSING
Regular Panel Decision

Commissioners of the State Insurance Fund v. P.S.G. Construction Co.

Commissioners of the State Insurance Fund (SIF), a judgment creditor, initiated a special proceeding against ES.G. Construction Co., Inc. (PSG) to invalidate alleged fraudulent conveyances made by Bridgeworks of Greater New York, Inc. (judgment debtor and SIF's original defendant) to PSG. Both Bridgeworks and PSG were solely owned by Paul Grosman. SIF sought recovery of an unpaid loan balance of $41,268. PSG moved to dismiss, arguing the claim was time-barred by the six-year statute of limitations under CPLR 213 (1). The court, following Second Department precedent, held that claims under Debtor and Creditor Law § 273-a accrue at the time of the conveyance, not when a judgment is obtained. As the conveyances occurred more than six years before the special proceeding commenced, the petition was dismissed as time-barred.

Fraudulent ConveyanceStatute of LimitationsDebtor and Creditor LawCPLRWorkers' Compensation InsuranceJudgment CreditorSpecial ProceedingCorporate VeilIntercorporate LoansDissolved Corporation
References
10
Case No. 99-11240 B, 08-CV-774A, Adv. No. 01-1193B
Regular Panel Decision
Nov 01, 2010

McHale v. Boulder Capital LLC (In Re 1031 Tax Group, LLC)

This memorandum opinion addresses the calculation of prejudgment interest on fraudulent transfer claims recovered by Gerard A. McHale, Jr., P.A., as Trustee for the 1031 Debtors Liquidation Trust, against the Boulder Defendants. The Court determined that three transfers in 2005 and 2006 were fraudulent under section 548(a) of the Bankruptcy Code. It concludes that the Trustee is entitled to prejudgment interest from the adversary proceeding commencement date, March 20, 2009, at the bank prime loan rates in effect on the dates of each transfer (6.5%, 8.0%, and 8.25%). Additionally, the Trustee is entitled to post-judgment interest at the federal judgment rate, and a final judgment is to be entered pursuant to Federal Rule of Civil Procedure 54(b).

Prejudgment InterestFraudulent TransferBankruptcy CodeAdversary ProceedingFederal Judgment RateMarket Rate InterestPrime RateRule 54(b) JudgmentTrustee RecoveryBankruptcy Court
References
26
Case No. MISSING
Regular Panel Decision

Taub v. Taub (In Re Taub)

Chana Taub, the debtor and plaintiff in a Chapter 11 bankruptcy case, filed an adversary proceeding against her estranged husband, Simon Taub, and his daughters, Rachel Taub and Perl Fein. The adversary proceeding sought to set aside alleged fraudulent transfers of the Grand Avenue Properties and impose a constructive trust, claims rooted in New York's Debtor and Creditor Law and Domestic Relations Law. The defendants moved for the Bankruptcy Court to abstain from deciding these claims, arguing they were purely state law matters related to equitable distribution and fraudulent conveyances already pending in New York State Supreme Court, Kings County. Presided over by Judge Elizabeth S. Stong, the court granted the Abstention Motion. The decision found that both mandatory and permissive abstention were warranted because the claims were based on state law, constituted non-core proceedings, had no federal jurisdictional basis other than bankruptcy, and could be timely adjudicated in the state court, which possessed expertise in domestic relations.

AbstentionBankruptcyFraudulent TransferEquitable DistributionDomestic RelationsState Law ClaimsCore ProceedingNon-Core ProceedingForum ShoppingNew York Law
References
32
Case No. MISSING
Regular Panel Decision

McAllister v. Renu Industrial Tire Corp.

The plaintiff, injured by a split-rim tire assembly during employment, sued his employer (the defendant) for 'fraudulent and intentional' impairment of his right to sue the manufacturer, alleging destruction of evidence. The defendant's president had assured the plaintiff of workers' compensation coverage, and the assembly was discarded later. Both parties testified there was no agreement to preserve the assembly. The Supreme Court granted summary judgment to the defendant, stating employers lack a duty to preserve such instrumentalities without prior agreement. The appellate court affirmed, finding no duty as the assembly was innocently discarded before notice of a potential lawsuit.

Destruction of EvidenceSpoliation of EvidenceSummary JudgmentEmployer LiabilityWorkers' CompensationDuty to PreserveThird-Party LawsuitAppellate ReviewFraudulent ConductTortious Conduct
References
2
Case No. MISSING
Regular Panel Decision

In Re Philgo Realty Co.

The Debtor filed a motion to expunge a claim (Claim Number 8) filed by Worcester Quality Foods, Inc. The claim stemmed from a judgment against the Debtor in a Massachusetts action for a fraudulent conveyance of $144,000.00. The Debtor argued the Massachusetts court lacked jurisdiction and that the judgment violated the automatic stay from the Debtor's involuntary bankruptcy petition. The court denied the Debtor's motion, ruling that the Massachusetts court's jurisdiction determination was res judicata as the Debtor failed to perfect an appeal. Additionally, the court granted nunc pro tunc relief from the automatic stay to the claimant because the Debtor and its principals remained silent about the bankruptcy filing during the Massachusetts action.

BankruptcyClaim ExpungementRes JudicataAutomatic StayDue ProcessFraudulent ConveyanceNunc Pro Tunc ReliefInvoluntary PetitionChapter 11Jurisdiction
References
12
Case No. 89 Civ. 5346
Regular Panel Decision

Petersen v. Vallenzano

This case addresses motions regarding a $200,000 judgment against Abco Tek Technologies, Inc., for which Marcello Vallenzano was held personally liable. Brian Petersen, the judgment creditor, had restrained Abco Pool Distributors Inc.'s bank account, alleging it was Vallenzano's alter ego. Vallenzano sought to vacate this restraint and requested sanctions, while Petersen cross-moved for a constructive trust on Abco Pool's assets, claiming a fraudulent conveyance. The court denied Vallenzano's motions, finding that Abco Pool was not a distinct entity and Vallenzano's transfers to it were without fair consideration, thus granting Petersen's cross-motion under New York Debtor and Creditor Law § 273-a.

Fraudulent ConveyanceDebtor and Creditor LawConstructive TrustCorporate Veil PiercingJudgment EnforcementCorporate DissolutionAlter EgoBank Account RestraintSummary JudgmentSouthern District of New York
References
21
Case No. MISSING
Regular Panel Decision

International Ass'n of Machinists & Aerospace Workers v. Allegis Corp.

The International Association of Machinists and Aerospace Workers (IAM), representing employees of Allegis Corporation and United Air Lines, Inc., initiated an action to set aside an alleged fraudulent conveyance. The Union claimed that United's assets were encumbered without consideration to finance a $2.8 billion cash distribution to Allegis shareholders, potentially rendering United insolvent. Defendants moved to dismiss the complaint on grounds of federal preemption by the Railway Labor Act (RLA), laches, mootness, and failure to join necessary parties. Presided over by Herman Cahn, J., the court denied all branches of the defendants' motion. The court found that the claims were not preempted by the RLA, were within the Statute of Limitations, were not moot, and that shareholders were not necessary parties to the action.

fraudulent conveyanceRLA preemptionsubject matter jurisdictionlachesmootnessnecessary partiescollective bargaining agreementDebtor and Creditor LawUniform Fraudulent Conveyance Actcorporate restructuring
References
17
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