Summary
In Farm Stores, Inc. v. School Feeding Corp., 64 N.Y.2d 1065, 1066–67, 489 N.Y.S.2d 877, 479 N.E.2d 222 (1985), the Court of Appeals affirmed a judgment avoiding this kind of fraudulent conveyance, “for the reasons stated in the opinion by Justice Moses M. Weinstein.” Writing for a unanimous panel of the Appellate Division, Justice Weinstein held “that preferential transfers to directors, officers and shareholders of insolvent corporations in derogation of the rights of general creditors do not fulfill the good-faith requirement of the Debtor and Creditor Law.” 102 A.D.2d 249, 254, 477 N.Y.S.2d 374 (1984).
Summary of this case from Wallach v. Buchheit (In re Northstar Development Corp.)Opinion
Argued March 19, 1985
Decided April 23, 1985
Appeal from the Appellate Division of the Supreme Court in the Second Judicial Department, George A. Murphy, J.
Irving Levine for appellant.
Hannah K. Flamenbaum and Donald N. David for respondents.
MEMORANDUM.
The order of the Appellate Division, insofar as it modified and, as so modified, affirmed the judgment of Supreme Court entered September 28, 1982, should be affirmed for the reasons stated in the opinion by Justice Moses M. Weinstein ( 102 A.D.2d 249). We add only that the order of Supreme Court entered January 18, 1983, merely recognized that a statutory stay of the September 28, 1982 judgment was in effect pursuant to CPLR 5519 (a) (2) in favor of respondent Lifton, and thus vacated the entry of the money judgment against Lifton. As such, this order merely administered the course of the litigation and, therefore, petitioner's appeal from the Appellate Division order insofar as it affirmed this order should be dismissed for nonfinality.
Chief Judge WACHTLER and Judges JASEN, MEYER, SIMONS, KAYE and ALEXANDER concur.
Order affirmed, with costs, insofar as it modified and, as so modified, affirmed the judgment of Supreme Court entered September 28, 1982; and appeal from so much of the order as affirmed the order of Supreme Court entered January 18, 1983 dismissed in a memorandum.