Garden City Co. v. Kassover

Appellate Division of the Supreme Court of New York

Garden City Co. v. Kassover

251 A.D.2d 9, 673 N.Y.S.2d 653, 1998 N.Y. App. Div. LEXIS 6380

Appellate Division of the Supreme Court of the State of New York·Decided June 2, 1998·Published·Cited by 3 cases

Opinion

—Order and partial judgment (one paper), Supreme Court, New York County (Carol Arber, J.), entered April 11, 1997, which, inter alia, granted plaintiff summary judgment on its cause of action under Debtor and Creditor Law § 273-a and set aside [10] certain conveyances between defendants, unanimously affirmed, with costs.

The conveyances fall within the provisions of Debtor and Creditor Law § 273-a in that they were made after commencement of plaintiffs arbitration against the transferor, the arbitration resulted in a judgment against the transferor that remains unsatisfied, the conveyancing documents recite no consideration other than the transferor’s “love and affection” for the transferees and no showing is made that other consideration in fact was given. Furthermore, the properties are income producing and were represented to have a value well above the mortgage debt encumbering them in the transferor’s financial statements for the year preceding institution of this action. Concur — Sullivan, J. P., Milonas, Rosenberger, Nardelli and Williams, JJ.

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—Order and partial judgment (one paper), Supreme Court, New York County (Carol Arber, J.), entered April 11, 1997, which, inter alia, granted plaintiff summary judgment on its cause of action under Debtor and Creditor Law § 273-a and set aside [10] certain conveyances between defendants, unanimously affirmed, with costs.

The conveyances fall within the provisions of Debtor and Creditor Law § 273-a in that they were made after commencement of plaintiffs arbitration against the transferor, the arbitration resulted in a judgment against the transferor that remains unsatisfied, the conveyancing documents recite no consideration other than the transferor’s “love and affection” for the transferees and no showing is made that other consideration in fact was given. Furthermore, the properties are income producing and were represented to have a value well above the mortgage debt encumbering them in the transferor’s financial statements for the year preceding institution of this action. Concur — Sullivan, J. P., Milonas, Rosenberger, Nardelli and Williams, JJ.

Garden City Co. v. Kassover, 251 A.D.2d 9, 673 N.Y.S.2d 653, 1998 N.Y. App. Div. LEXIS 6380 (N.Y. Ct. App. 1998).

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251 A.D.2d 9 (Garden City Co. v. Kassover) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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