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legal duty, or has been used to do an act tainted by dishonesty or unjust conduct violating plaintiff’s rights If TRE’s assets were appraised above $3.25 million, TRE’s junior creditors (like Brooklawn) would still Therefore, Mueller needed a valuation between $2 and $3 million in order to “leave unsecured creditors with an approach that would allow them to acquire TRE’s functioning platform while ‘leav unsecured creditors Brooklawn would find itself arbitrating against a ‘ShellCo,” and LiquidX, with TRE’s contingent creditors

“Conversion is an unauthorized assumption and exercise of the right of ownership over goods belonging to another to the exclusion of the owner’s rights. subject of a conversion action.” 2 “Two key elements of conversion are (1) plaintiff’s possessory right and (2) defendant’s dominion over the property or interference with it, in derogation of plaintiff’s rights .” 3 “To state a cause of action for replevin, a plaintiff must establish a superior possessory right

Transactions Act (“NYUVTA”) became effective, replacing Article 10, Sections 270-281 of the Debtor and Creditor regardless of intent; DCL § 275 (conveyance by defendants to the detriment of current and future creditors , fraudulent as to both present and future creditors.” $17 million and (ii) the seller to perform renovations on the premises subject to “the plaintiff’s right transfers to directors, officers, or shareholders of insolvent corporation[] in derogation of the rights

transfers, 245 E. 19 Realty provides us with the opportunity to examine a case involving the new Debtor and Creditor DCL § 273(a)(1) requires actual intent to hinder, delay or defraud any creditor of the debtor. Actual intent to hinder or delay creditors suffices.” 10 Because it is difficult to prove actual intent to hinder, delay, or defraud creditors, the pleader is allowed to rely on “badges of fraud” to support James Gadsden and Alan Kolod, Supplementary Practice Commentaries, McKinney’s Debtor and Creditor Law

the Appellate Division, Fourth Department issued two decisions involving New York’s former Debtor and Creditor regardless of intent; DCL § 275 (conveyance by defendants to the detriment of current and future creditors , fraudulent as to both present and future creditors.” in the usual course of business; inadequacy of the consideration; the transferor’s knowledge of the creditor holding that, although “the complaint sparse on facts”, plaintiff adequately alleged that “it is a creditor

liens on that real property for 10 years, CPLR § 5203(a) , although CPLR § 5014 permits a judgment creditor As explained, under CPLR § 5014, as it presently stands, a judgment creditor can commence an action for gap” period, other lienors, particularly mortgagees, can “slip in” and gain priority over a judgment creditor

“The right of access to court proceedings and records also is firmly grounded in the common law.” This right of access also derives from the constitutional “presumption, arising from the First and Sixth Despite the broad presumption of public access, the courts have made it clear that the right to such “Sealing, however, is not appropriate merely to protect the advantage that one side might have over the Aug. 12, 2019) ( here ), wherein she denied a motion to seal judicial records because the public’s right

83, 84–85), as follows: “First, the primary purpose of the statute is to compel the exercise of a right Otherwise, the belated institution of an action might prejudice defendant’s preparation of evidence. For example, creditors may more accurately determine a person’s financial status if his former outstanding Once the mortgagee’s election to accelerate is properly made, “the borrower’s right and obligation to Thus, as noted in the record on appeal, the agreement provided that the borrower “has no right of set-off

It is a procedural device whereby the plaintiff or creditor can bypass the commencement of a lawsuit However, the plaintiff or creditor cannot enter judgment against the defendant or debtor if (1) more due or to become due.” 3 This means that “there must be sufficient genuine detail to enable other creditors the inevitable is virtually certain – i.e. , that the defendant owes (or will owe) the plaintiff or creditor And, in giving a confession of judgment, the defendant or debtor is handing the plaintiff or creditor

There was no stay of claims, no moratorium on lawsuits, and no bar to creditors seeking judgments. Concerned that any judgment might be difficult to collect, especially in light of the restructuring of judgment.”[5] CPLR 6201(3) provides for an attachment where “the defendant, with intent to defraud his creditors or frustrate the enforcement of a judgment that might be rendered in plaintiff’s favor, has assigned demands may indicate a breach of contract, but, without more, do not demonstrate intent to defraud creditors

Article 52 of the Civil Practice Law and Rules provides the enforcement mechanisms that judgment creditors CPLR § 5225 allows a judgment creditor to initiate a special proceeding directing a person in possession CPLR § 5227 allows a judgment creditor to commence a special proceeding “against any person who it is The judgment creditor has the burden of proving compliance with the statute. that his property may be exempt from application to a judgment, involves a fundamental due process right

held that plaintiff “failed to adequately plead a claim for fraudulent conveyance under Debtor and Creditor Such allegations, held the Court “do not state a claim for constructive fraud under the Debtor and Creditor immediately or mediately” from a good faith purchaser for value, is also not actionable (Debtor and Creditor Takeaway Eagle Eye illustrates the difficulties creditors have alleging violations of the old DCL. Even when alleging constructive fraud, in which intent is not required, creditors must allege facts to