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Injunction Granted -- Defendant Intentionally, and Without Authority, Assumed Control over Corporate Property And Provided No Evidence that the Money Was Being Used for Corporate Purposes

REDACTED Management, Inc. et al - v. – REDACTED INDIVIDUAL

(New York Supreme Court, November 14, 2012)

We represented the Plaintiffs in an action that involved the theft of $200,000.00 by a terminated employee.  The terminated employee had misappropriated the funds, opened a new bank account in a corporate name, and deposited the stolen funds into the new account. We sought a temporary and preliminary injunction freezing the Defendant’s bank accounts and enjoining the Defendant from interfering with Plaintiffs’ business.  The Defendant admitted that he stole the funds from Plaintiffs, but contended that he did so as a reserve for credit card transactions, as the Defendant was a guarantor on several of Plaintiff’s merchant accounts.  In granting Plaintiff’s request for an injunction, the Court held that the Defendant intentionally, and without authority, assumed control over corporate property and provided no evidence that the money was being used for corporate purposes.  Accordingly, the Court found that Plaintiffs satisfied the legal standards for a preliminary injunction by showing irreparable harm, likelihood of success on the merits, and the balance of equities in their favor.

Link to Full Text of Decision

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