Bastianelli v. Toco International, Inc.

The issue before us is whether the trial court erred in finding that defendant David Altschuler was an innocent purchaser for value of real property from the grantee of a conveyance held to be in fraud of creditors of Toco International, Inc., the grantor.

Plaintiff, a creditor of Toco International, Inc., filed a bill in equity seeking to set aside, as a fraud on creditors, a conveyance from Toco to James Shane, trustee of Jasha Realty Trust, of certain real estate on the ground that the conveyance left Toco insolvent and was therefore fraudulent under the Uniform Fraudulent Conveyance Act,…