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MATTER OF NORTHWEST 5TH & 45TH REALTY CORP. v. MITCHELL, MAXWELL & JACKSON, INC.

6616, 150344/13.

161 A.D.3d 574 (2018)

77 N.Y.S.3d 368

2018 NY Slip Op 03631

In the Matter of Northwest 5th & 45th Realty Corp., Respondent, v. Mitchell, Maxwell & Jackson, Inc., et al., Appellants, et al., Respondents.

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

Decided May 17, 2018.

In this special proceeding, petitioner seeks to enforce, against Knobel, two judgments that it obtained against respondent Mitchell, Maxwell & Jackson, Inc. (MMJ) in a plenary action. The petition invoked Debtor and Creditor Law § 273, which requires insolvency. The petition also quoted Debtor and Creditor Law § 271 (1), which states, "A person is insolvent when the present fair salable value of his assets is less than the amount that will be required to pay...

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