United National Real Estate, Inc. v. C.F. Thompson and Columbia Auto Parts, Inc.

OPINION

TODD, Presiding Judge, Middle Section.

This is a suit by a judgment creditor to set aside a fraudulent transfer of assets and to subject said assets to the satisfaction of the judgment.

In September, 1985, Columbia Auto Parts, Inc., executed with United National Real Estate, Ine., an “Exclusive Listing Agreement” for the sale of the assets of Columbia Auto Parts, Inc. In October, 1985, Columbia Auto Parts, Inc. contracted to sell said assets to A1 Carroll. In March, 1986, the sale was concluded, and the proceeds were deposited in the corporate bank account. After payment of outstanding…