Lipson v. H. M. R. Enterprises, Inc.

Judgment unanimously modified on the facts and on the law, and, as modified, otherwise affirmed, without costs. In this action to set aside chattel mortgages and for other relief, the trial court properly found that the mortgages were invalid as fraudulent transfers in violation of the rights of creditors. It is clear, however, that the conspiracy to perpetrate the fraud did not occur prior to May 14, 1957. Between March 4 and March 21, 1957, H. M. R. acquired certain conditional sales contracts by assignment and as part of a loan made to the judgment debtor. From the record, we find that…