10-4 WEST 108TH ST. REALTY, LTD. v. REDWOOD DEV., LTD.


220 A.D.2d 279 (1995)

632 N.Y.S.2d 538

10-4 West 108th Street Realty, Ltd., et al., Respondents, v. Redwood Development, Ltd., et al., Defendants, and Willy Beer, Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

October 12, 1995


The conveyance of the entire proceeds of the sale of the closely-held corporate defendant's only asset to defendant-appellant and his partner was fraudulent as it was made without fair consideration and rendered the debtor insolvent (Debtor and Creditor Law §§ 273, 275). Such conveyance is fraudulent without regard to the intent of the transferor (see, Julien J. Studley, Inc. v Lefrak, 66 A.D.2d 208, 213, affd...

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