People v. Atlas Securities Corp.

Appellate Division of the Supreme Court of New York

People v. Atlas Securities Corp.

1 A.D.2d 1004, 1956 N.Y. App. Div. LEXIS 5229

CourtAppellate Division of the Supreme Court of the State of New York

DecidedMay 22, 1956

StatusPublished

This text of 1 A.D.2d 1004 (People v. Atlas Securities Corp.) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

People v. Atlas Securities Corp., 1 A.D.2d 1004, 1956 N.Y. App. Div. LEXIS 5229 (N.Y. Ct. App. 1956).

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Opinion

Judgment against defendants Atlas Securities Corporation and Tilley modified to amend the findings of fact to include the statement that defendants knew of the insolvency of the defendant corporation when the alleged transactions were entered into, and, with respect to defendant Tilley, to limit the judgment to conform with the proposed judgment to which he consented, and is otherwise affirmed in all respects, without costs to either party against the other. It is clear from the record that the People sustained their burden of proof that defendants knew of the insolvency of the corporation when the transactions were entered into. Moreover, the only issue on the trial, by agreement of the parties, was that of insolvency. There was sufficient in the record to warrant the conclusion that defendant Tilley’s participation in the trial extended no further than to consent to the form of judgment which had been proposed in the course of settlement. This consent was accepted by the People. Concur — Breitel, J. P., Botein, Frank and Valente, JJ.; Cox, J., dissents only insofar as the modification limits the judgment as against Tilley but otherwise concurs in the modification. Settle order on notice.

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Judgment against defendants Atlas Securities Corporation and Tilley modified to amend the findings of fact to include the statement that defendants knew of the insolvency of the defendant corporation when the alleged transactions were entered into, and, with respect to defendant Tilley, to limit the judgment to conform with the proposed judgment to which he consented, and is otherwise affirmed in all respects, without costs to either party against the other. It is clear from the record that the People sustained their burden of proof that defendants knew of the insolvency of the corporation when the transactions were entered into. Moreover, the only issue on the trial, by agreement of the parties, was that of insolvency. There was sufficient in the record to warrant the conclusion that defendant Tilley’s participation in the trial extended no further than to consent to the form of judgment which had been proposed in the course of settlement. This consent was accepted by the People. Concur — Breitel, J. P., Botein, Frank and Valente, JJ.; Cox, J., dissents only insofar as the modification limits the judgment as against Tilley but otherwise concurs in the modification. Settle order on notice.

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Bluebook (online)

1 A.D.2d 1004, 1956 N.Y. App. Div. LEXIS 5229, Counsel Stack Legal Research, https://law.counselstack.com/opinion/people-v-atlas-securities-corp-nyappdiv-1956.