Philadelphia Skyline

Freeman Foursome v. Cabana Carioca

(Sup. Ct. N.Y. Cty. 1/30/01)

Plaintiff, owner of a four-story building in Manhattan, had net-leased the entire building to a corporation, and obtained judgment after trial for rent, additional rent, costs of cleanup and re-letting, payment of violations, expenses connected with obtaining amended certificate of occupancy, and expenses in connection with other obligations undertaken but not carried out by the net lessee. Court also held that when, prior to judgment, principals of corporate tenant repaid a loan to themselves as major shareholders, such transfer was presumptively fraudulent and designed with the intention of hindering plaintiff landlord as a creditor; therefore, plaintiff was allowed to collect against individual defendants as well. Decision affirmed on appeal (293 A.D.2d 964, 741 N.Y.S.2d 146 (App. Div. 1st Dept. 4/30/02)).  Link to Full Text of Decision

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