Yesterday, we got notice of the Los Angeles County Superior Court that we had prevailed in a fraudulent transfer action against the transferee (recipient) of fraudulently transferred property. This is another important win for our client.
As background, after obtaining a large judgment against a defendant in a commercial leasing dispute, the defendant transferred nearly all of his assets, including his commercial real property, to his adult son. The judgement debtor then filed bankruptcy. Schorr Law, on behalf of its client, filed an adversary proceeding in the bankruptcy court, attacking the judgment debtor’s bankruptcy filing for failing to disclose the debtor’s true assets and liability. Schorr Law successfully got the bankruptcy action dismissed without allowing the judgment debtor to be discharged from his debt.
Following successfully contesting the bankruptcy action, Schorr Law then filed a fraudulent transfer claim against the defendant’s son seeking to void the transfer of property to him and/or to obtain the full money judgment against the son. Yesterday, after nearly a year of hotly contested litigation, we learned from the Los Angeles County Superior Court that our client had prevailed in his action. The court gave a judgment awarding the full amount of our client’s damages against the judgement debtor’s son and voided the transfer of the property from the father to the son (re-vesting title in the father).
Collection can be difficult, especially when a judgment debtor disposes of assets, but if you know what you are doing you can still collect.
For more information, contact Schorr Law, APC, 12100 Wilshire Boulevard, Suite 1050, Los Angeles, California. www.schorr-law.com, 310-954-1877, firstname.lastname@example.org.