Lyman Commerce Solutions, Inc. v. Lung et al

Plaintiff: Lyman Commerce Solutions, Inc.
Defendant: Conrad Lung, Richard Gilbert, Lung's Consultants LLC, R.D. Simpson, Inc., The Richard Gilbert Family LLC and Irwin Levy
Case Number: 1:2012cv04398
Filed: June 5, 2012
Court: New York Southern District Court
Office: Foley Square Office
County: XX Out of State
Presiding Judge: Thomas P. Griesa
Nature of Suit: Recovery of Overpayment and Enforcement of Judgment
Cause of Action: 28:1332
Jury Demanded By: None

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Date Filed#Document Text
April 20, 2015 102 Opinion or Order of the Court OPINION #105458: When MUDD was first sued in the Iowa proceeding, it had over $14 million in various accounts. Approximately six weeks later, MUDD held only $300,000-well below the amount required to satisfy the later imposed Iowa judgmen t. This drastic depletion of MUDD's assets during the pendency of the Iowa action was due in large part to conveyances to insiders, including the Gilbert and Lung defendants. The undisputed facts show that MUDD transferred over $3 million to the Gilbert and Lung defendants when MUDD was already the subject of the Iowa claim, and that MUDD did not receive equivalent value in return. In voluminous filings, neither the Gilbert nor Lung defendants have managed to dispute these basic f acts, except to highlight MUDD's supposed solvency for a short time after the transfers in question. But as discussed above, solvency alone does not preclude liability under § 273-a. The court thus finds that no genuine issue of material fact exists with respect to whether the conveyances at issue were made for fair consideration or, in the alternative, made in good faith. The transactions in question-preferential repayments to corporate insiders, in derogation of the rights of p laintiff, a general creditor-were fraudulent conveyances under the DCL. On this evidentiary record, plaintiff's motion for partial summary judgment is granted. The court directs the parties to meet and confer, and to submit a joint letter to the court setting forth their views as to the remedies that the court should order consistent with this decision. This letter must be filed within 30 days of the date of this opinion. This opinion resolves the motion listed as item 28 on the docket. SO ORDERED. (Signed by Judge Thomas P. Griesa on 4/20/2015) (kl) Modified on 4/20/2015 (ca).
August 30, 2013 52 Opinion or Order of the Court OPINION re: 21 MOTION to Dismiss the Complaint filed by R.D. Simpson, Inc., Irwin Levy, The Richard Gilbert Family LLC, Richard Gilbert, 25 MOTION to Dismiss filed by Conrad Lung, Lung's Consultants LLC. For the foregoing reasons, the motions to dismiss the complaint are denied in their entirety. This opinion will resolve docket item numbers 21 and 25. (Signed by Judge Thomas P. Griesa on 8/30/2013) (rsh)
June 12, 2012 5 Opinion or Order of the Court OPINION re: 2 EX PARTE MOTION to Serve Defendant Lung pursuant to FRCP 4(f)(3). filed by Lyman Commerce Solutions, Inc. The court orders that plaintiff may serve Lung by personally delivering a copy of the summons and complaint to Lung' s counsel in the United States, Joel Salon, at the New York City law office of Salon Marrow Dyckman Newman & Broudy LLP. Plaintiff shall also personally deliver the summons and complaint to a personal of suitable age and discretion at the New York apartment owned and formerly occupied by Lung, which is located at 860 United Nations Plaza in the borough of Manhattan. (Signed by Judge Thomas P. Griesa on 6/12/2012) (pl)
February 6, 2014 87 Opinion or Order of the Court OPINION: re: 55 MOTION for Reconsideration re; 52 Memorandum & Opinion, filed by R.D. Simpson, Inc., Irwin Levy, The Richard Gilbert Family LLC, Richard Gilbert. For the forgoing reasons, the court denies Gilbert defendants' argument that Iowa law governs plaintiff's fraudulent conveyance claims. This opinion resolves docket item number 55. SO ORDERED. (Signed by Judge Thomas P. Griesa on 2/06/2014) (ama)

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Search for this case: Lyman Commerce Solutions, Inc. v. Lung et al
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Plaintiff: Lyman Commerce Solutions, Inc.
Represented By: Paul Scott Hugel
Represented By: Brian David Linder
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Defendant: Conrad Lung
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Defendant: Richard Gilbert
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Defendant: Lung's Consultants LLC
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Defendant: R.D. Simpson, Inc.
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Defendant: The Richard Gilbert Family LLC
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Defendant: Irwin Levy
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