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STILLWATER LIQUIDATING LLC v. PARTNER REINSURANCE COMPANY, LTD.

4339. 652451/15.

151 A.D.3d 585 (2017)

2017 NY Slip Op 05034

59 N.Y.S.3d 8

STILLWATER LIQUIDATING LLC, Respondent-Appellant, v. PARTNER REINSURANCE COMPANY, LTD., et al., Appellants-Respondents.

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

Decided June 20, 2017.

The motion court correctly determined that the Partner Re loan was not a fraudulent conveyance, since a loan advance, regardless of the size of the collateral pledged, is "fair consideration" for the pledge (Debtor and Creditor Law §§ 274, 275; see Chemtex, LLC v St. Anthony Enters., Inc., 490 F.Supp.2d 536 [SD NY 2007]). However, the allegations that Stillwater Funding transferred its interests in the collateral...

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