Sardis v. Frankel
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Tom, J.P.
At issue is whether defendant Sofia Frankel’s conveyance of a Manhattan condominium apartment to her son, defendant Michael Frankel, was constructively fraudulent pursuant to Debtor and Creditor Law §§ 273-a and 278. This Court concludes that the transaction fails to comply with the good faith requirement of section 272 of the statute and was without fair consideration. Thus, the transfer was properly set aside.
During the time Sofia Frankel was employed as a broker for Goldman Sachs & Co., plaintiffs entrusted her with some $19 million to invest on their behalf,…
2Cases cited28 opinions
- In Re: Sharp International Corp. & Sharp Sales Corp., Debtors. Sharp International Corp., Debtor-Appellant v. State Street Bank and Trust CompanyCourt of Appeals for the Second Circuit · 2005
- Joseph Martin, Jr., Delicatessen, Inc. v. SchumacherNew York Court of Appeals · 1981
- Cobble Hill Nursing Home, Inc. v. Henry & Warren Corp.New York Court of Appeals · 1989
- Wall Street Associates v. BrodskyAppellate Division of the Supreme Court of the State of New York · 1999
- Wheeler v. . ReynoldsNew York Court of Appeals · 1876
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- Long Oil Heat, Inc. v. SpencerDistrict Court, N.D. New York · 2019
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