Perelman Sues Late Wife Claudia Cohen's Family, Claiming They Cheated Her Jul 13, 2008
His claims include fraudulent conveyance, undue influence and unjust enrichment. The complaint asks the judge to order the undoing of asset transfers and a rewriting of Robert Cohen's will to assure compliance with the verbal promises. (Bloomberg)
Alston Set to Settle Malpractice Suit Jun 10, 2008
In his order, Edenfield says that two of the other lenders Crescent had approached told E &Y "that Crescent's refinancing would require an investment by Friedman's so large that it could be considered a fraudulent conveyance by Friedman's creditors and shareholders.". Edenfield, in a footnote, writes that the "trustee fails to explain why the banks believed this to be a potentially fraudulent conveyance." He goes on to cite a legal treatise for the generic proposition that an "obligation... (Law.com)
Nevada Gold Announces Favorable Ruling From Texas Court of Appeals in American Heritage Lawsuit Feb 14, 2008
HOUSTON, Feb. 14, 2008 (PRIME NEWSWIRE) -- Nevada Gold & Casinos, Inc. (AMEX: - ) today announced that the Court of Appeals for the First District, Houston, Texas, (the ``Appeals Court'') has ruled in its favor regarding liability in its suit against American Heritage, Inc. (d/b/a/ The Gillmann Group), Nevada Gold's former joint venture partner in Route 66 Casinos, LLC. This ruling enables the Company to pursue its fraudulent conveyance suit against American Heritage, the outcome of which will... (Primezone Releases)
Noteholders object to TOUSA bankruptcy plan Feb 2, 2008
The objections, filed by Miami law firm Genovese, Joblove & Battista, P.A., also say the company committed fraudulent conveyance in July, when it "forced" its subsidiaries to grant its first and second lien term loan lenders secured guaranties of $500 million and to guaranty its $700 million revolver to pay debts related to its Transeastern joint venture, which was heavily indebted and the subject of a lawsuit. The filings say the subsidiaries received no consideration from the arrangement or... (South Florida Business Journal, FL)
Economic terrorist’: Montana man convicted of tax evasion Nov 16, 2007
That otherwise would be called fraudulent conveyance in bankruptcy court, Lovell said. He s avoiding payment of his creditors and tries to put his property out of reach of creditors by conveying the title. (Helena Independent Record, MT)
Rosetta Objects to Calpine's Disclosure Statement for Plan of Reorganization Sep 17, 2007
Similarly, if Calpine's allegations in its fraudulent conveyance action are true, which Rosetta disputes, the Calpine directors and officers who entirely controlled and made all decisions related to the Rosetta transaction, without CNG management having any control or decision making authority for and on behalf of Calpine in this regard, misled Rosetta and its shareholders and induced them to participate in the Rosetta transaction by representing that Calpine was and would remain solvent.... (Primezone Releases)
Rosetta files dismissal against Calpine Sep 13, 2007
has filed a motion in U.S. Bankruptcy Court to dismiss 's fraudulent conveyance claims, claiming they are barred as a matter of law by the expected full payment of Calpine's creditors. Rosetta, a Houston oil and gas company, alleges the transaction in which it received Calpine's oil and gas business was approved by the San Jose, Calif. (Houston Business Journal, TX)
Rosetta Resources Inc. Announces Record Second Quarter 2007 Production and Revenues and Provides Operational Update Aug 14, 2007
This settlement, upon approval by the bankruptcy court, resolves certain issues between Calpine and Rosetta and does so without prejudice to each party's positions in connection with Calpine's fraudulent conveyance action. We reiterate that we believe the fraudulent conveyance lawsuit is both factually and legally without merit and will continue to vigorously defend our position. (Primezone Releases)
A very confusing ruling Feb 21, 2007
To win such a challenge Hausman would have to argue that Altria is, in effect, already legally "insolvent" because of the liability it will eventually face due to the Schwab suit, and that the spinoff of Kraft therefore amounts to a fraudulent conveyance under the bankruptcy laws--i. e., an attempt to sneak assets out of the estate before they can be divvied up properly among creditors. (CNN -- Money)
Judge Puts Freeze on OJ Funds Feb 9, 2007
Ron Goldman's father, Fred, made the injunction request as part of a state lawsuit filed in December, accusing Simpson of fraudulent conveyance namely, setting up a bogus corporation, Lorraine Brooke Associates, to funnel the advance he received from would-be publisher ReganBooks. The Goldmans claim that the fake account was set up so that Simpson would not be forced to relinquish any money to make good on the $33. (E! Online)
Judge freezes money from Simpson deals Jan 6, 2007
The federal lawsuit accuses Simpson of fraudulent conveyance and alleges that he created a shell corporation called Lorraine Brooke Associates last March that received at least $1. 1 million. (MSNBC -- Lifestyle)
Kraft Spin-Off From Altria Seen Imminent Jan 5, 2007
Previously, it had been reluctant to do so out of fear the Schwab case, if certified, could leave them charged with fraudulent conveyance. "It would appear they were trying to hide assets," Mathis said in an interview in October. (Forbes -- Business)
Suit: Simpson pocketed $1M book advance Dec 22, 2006
The federal lawsuit filed in California accuses Simpson of "fraudulent conveyance" and alleges that he created a shell corporation that received at least $1. 1 million as part of the TV interview and book, titled "If I Did It.". (CNN -- Law)
Former Cendant chariman found guilty of fraud Nov 1, 2006
One of Forbes's personal lawyers, Greg Danilow, said he told Forbes at the time that prosecutors could view the transfers as an admission of guilt and that civil litigants could see them as a fraudulent conveyance. Forbes denied Danilow's version of events. (Chicago Tribune)
More of this story Nov 1, 2006
They can treat that as a fraudulent conveyance, said Dana Alan Curhan, an appellate attorney. Lincoln's Middleboro home on Taylor Way is assessed by the town at 596,000. (Brockton Enterprise, MA)
Lawsuit: Dr. Notes CEO liable for company debt Oct 10, 2006
The motion said Intracare's purchase of Dr. Notes' assets in November 2004 for $500,000 was a fraudulent conveyance under Florida law because the transaction was done between a husband and wife for less than fair market value. Dr. Notes provided to the plaintiff's lawyer an appraisal by accounting firm that said Dr. Notes was worth $40 million in June 2004. (South Florida Business Journal, FL)
Altria Likely to String Out Kraft Spinoff Aug 30, 2006
For one, there is a fear that a plaintiff in a lawsuit could file a fraudulent conveyance claim against it. If this were to happen, the company might be blocked from splitting up its assets if the plaintiff were to successfully argue in court that Altria is trying to protect its assets from potentially being seized in a lawsuit. (SmartMoney)
How to Fight Bankruptcy Scams Aug 24, 2006
Another practice, "fraudulent conveyance," is the one you described ... If you, as a creditor, can prove that the transfer was part of a fraudulent conveyance, you may have some recourse in bankruptcy court, Janovsky says. (BusinessWeek)
Casper Judge tosses lawsuit against county clerk Aug 3, 2006
Annis sued on April 17, claiming Collins and Lay received the land by "fraudulent conveyance.". Annis claimed the notices of federal tax liens are prohibited by the Federal Tax Lien Act of 1966, and that he has a "land patent" that forbids its forced sale according to the Wyoming Constitution. (Casper Star-Tribune, WY)
Church properties in Vt. valued at $405 million May 24, 2006
Jerome O'Neill, the lawyer representing the 19 people suing the diocese, has labeled the creation of the trusts a "fraudulent conveyance," and said he will fight it in court. The appraisal, conducted in 2004 by Gallagher Bassett Services Inc. of Itasca, Ill. (WCAX.com, VT)
Malpractice Suit Against Prominent Litigator Dismissed May 24, 2006
Such witnesses, he claimed, would have testified that it was industry practice, not fraudulent conveyance, for models to transfer their contracts among different management firms. But the judge said such testimony would have been irrelevant in the case of Flutie Bros. (Law.com)
Will Charitable Trusts Protect Parishes? May 16, 2006
He claims the move breaks the state's fraudulent conveyance law ... The fraudulent conveyance law was created in 1995 and states that a person or organization can not transfer money if there is a chance they may be sued in the future. (WCAX.com, VT)
Judge Finds Little Goodwill in Price for Penalized Firm Mar 22, 2006
David A. Dorfman's efforts to sell his practice to his associate, Gregory Koerner, had been challenged as a fraudulent conveyance by the former client who successfully sued for malpractice. The client, Ricky Baker, claimed the sale price failed to account for $50,000 in goodwill and was part of Dorfman's efforts to dodge payments on the malpractice award. (Law.com)
MergerTalk: Kraft spinoff still clouded in smoke (Reuters) Jan 15, 2006
Altria is taking such a conservative approach to avoid any appearance of "fraudulent conveyance" -- disposing assets to protect them from being used to pay damages. "The argument is, 'Are you defrauding creditors here?"' said Stephen Presser, a professor at both Northwestern University's School of Law and its Kellogg School of Management. (RSS - Yahoo News - Business)
Benefits of Nevada Corporations Jan 9, 2006
Giving possession of bearer shares to another person without fair consideration will likely be discovered and reversed as a fraudulent conveyance. I have never found any advantage for a Florida resident to establish corporations or LLCs in Nevada or any other state unless the Florida resident owns property or does business in the other state. (Blawg)
