Southern Industries, Inc. v. Jeremias
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Damiani, J.
The principal issue in this case is whether a transfer of substantially all of the assets of an insolvent corporation to a director thereof in return for the satisfaction of an antecedent debt is barred by the fraudulent conveyance provisions of the Debtor and Creditor Law. We hold the transfer invalid.
Ernest Jeremías was an officer, director and major stockholder of a publicly held corporation named Mazel Knitting Mills, Inc. Jeremías had loaned the corporation substantially in excess of $200,000 and this debt was reflected in the corporate books. The…
2Cases cited12 opinions
- Caesar v. BernardAppellate Division of the Supreme Court of the State of New York · 1913
- Campbell v. . CothranNew York Court of Appeals · 1874
- Caesar v. . BernardNew York Court of Appeals · 1913
- De West Realty Corp. v. Internal Revenue ServiceDistrict Court, S.D. New York · 1976
- Munzinger v. United PressAppellate Division of the Supreme Court of the State of New York · 1900
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- Chen v. New Trend Apparel, Inc.District Court, S.D. New York · 2014
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