Trionics Research Sales Corp. v. Nautec Corp.

Defendants appeal. In an action for damages based on an allegedly fraudulent transfer or preference, the Supreme Court, New York County, denied defendants’ motion for summary judgment and granted plaintiff’s cross motion for the same relief. The Appellate Division affirmed in a memorandum (one Justice dissenting). It held that the prorata distribution of all its assets, located in Wisconsin, by defendant debtor (Trionics) to plaintiff (Trionics Research) and defendant Nautec, its two sole remaining creditors, while defendant debtor was insolvent and after plaintiff had obtained judgments in…