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judge stong

Sec. Investor Prot. Corp. v. Rossi (In re Cambridge Capital LLC)

Ruling
Trustee had standing to assert claims of fraud regarding transfer by chief executive officer of the debtor of personal residence to wholly owned investment company and then to the officer's fiancee.
Procedural posture

Moving defendant, the fiancee of the primary defendant, moved for partial summary judgment to dismiss adversary claims brought against her by plaintiff trustee for liquidation, under 11 U.S.C. § 542 and N.Y. Debt. & Cred. Law §§ 273–78, asserting allegations of fraud and constructive fraud concerning the transfer of $ 1.5 million in assets by the primary defendant, including the sale of his personal residence to the fiancee.

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opinion summary, case decided on August 22, 2005 , LexisNexis #0106-119