New York Debtor & Creditor Law 2013

Statute of Limitations Research and Disclosures Another novel feature of the New York regulation is its new requirements surrounding statutes of limitations. First, as noted above, with respect to a charged-off debt, the debt collector must provide the consumer with 1 a clear and conspicuous written notice of the name of the original creditor, and 2 an itemized accounting of the debt, containing certain items prescribed by the regulation. If the consumer makes a request for substantiation, the debt collector must generally: The FDCPA contains a different schedule for validation of debts, with the consumer having only 30 days after receipt of the debt validation notice to dispute the debt.

It is possible that a debt collector could craft a single communication to comply with both sets of requirements. Note that a debt collector could quickly complete validation of a debt for purposes of the FDCPA and substantiation of a debt for purposes of the New York regulation, but still have to wait the full day period required by the FDCPA before resuming collection activities. Restrictions on Email with Consumers After the debt collector has provided the initial disclosures required by the New York regulation, the debt collector is prohibited from corresponding by email with a consumer unless:.

The consumer has consented in writing, including by electronic signature, to receive emails from the debt collector in reference to a specific debt; or. The debt collector sends an email to a consumer only in order to satisfy the above requirements. However, the various requirements related to charged-off debt are effective on August 30, The rules are not privately enforceable.

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The rules are state regulations enforceable by the Department, and may be enforceable by other regulators or prosecutors. Again, both parties raise compelling arguments. Viewing the whole course of conduct involving many facts and inferences the court finds that the transfer was made with actual intent to hinder The case at bar is a good instance of the evils sought to be reached by the Lastly, plaintiff seeks attorney's fees pursuant to N.

It is also clear beyond question that a The court properly directed the Clerk The general subject of fraudulent conveyances is now dealt with mainly in the Debtor and Creditor Law , though there still are provisions relating to it in the By the terms of the Debtor and Creditor Law every conveyance by a person who is insolvent or which renders him insolvent is fraudulent as to Consistent with the general rule that statutes are The monetary amount claimed by plaintiff on any of its causes of act Act UCC art 6 , or an action to recover assets fraudulently transferred in derogation of the rights of creditors, pursuant to article 10 of the Debtor and Creditor Law , be maintained against the The action was held to be equitable in nature, and, therefore, outside the powers of the Civil Court ORDERED that the order is reversed insofar as appealed from, on the law , with costs, the motion is granted, and the matter is remitted to the Supreme Court, Nassau County, for the entry of an appropriate The contention of the Schwartz defendants that the plaintiff has an adequate remedy at law is meritless.

The plaintiff is not required to pursue his Plaintiff argues that the conveyance from Carol Oppenheim to her daughter on that date was fraudulent by virtue of section Debt. DLJ, a corporation that, among other things, is in the business of purchasing large blocks of mortgage loans, alleges that defendants In an action, inter alia, to set aside an alleged fraudulent conveyance pursuant to Debtor and Creditor Law article 10, the defendants appeal, as limited by their brief, from so much of The plaintiff then commenced this action pursuant to The argument has merit.

Here, it is apparent that the promissory note Ordered that the judgment is reversed, on the law and the facts, with costs In this case, it is undisputed that BOC was Ocean's creditor before the transfer A cause of action under Debtor and Creditor But the attachability of the Plaintiff Schmitt moved for summary judgment against all defendants.

Special Term denied the motion after finding Under section Debt. In this case, we are not presented with any expert documentary evidence of the value of the Tellerday farm.

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Section provides that fair consideration is given when i in exchange for property, "a fair equivalent therefor" is conveyed or an antecedent In an action, inter alia, to set aside an alleged fraudulent conveyance of real property pursuant to Debtor and Creditor Law article 10, the plaintiff The plaintiff alleged, inter alia, that Albert This Court concludes that the transaction fails to comply with the good faith The Debtor and Creditor The judge did not find, however, that the fraudulent nature of the transaction automatically gave rise to a lien on the property under section , subd.

In practice, to pursue the first alternative which clearly assumes that there is a lien on the Priestley's motion for summary judgment is therefore granted and The Court has not found dispositive case law as to whether its Distinction, if any once there was, between tangible goods and choses True it is, that the contract must be construed in accordance with Austrian law United States Trust Co.

The only limitations are that the liability asserted be such as is recognized by our law ; that it be contractual in nature; and that it shall not affront Amadeus thereafter moved for summary judgment voiding Financitech's mortgages as fraudulent conveyances pursuant to the Debtor and Creditor Law or, alternatively The Committee also requests entry of a money judgment against the defendants pursuant His conclusion is, to say the least, not clearly erroneous as to any of these transactions, and Priestley's motion for summary judgment is therefore granted and the respondents' motion for Nor is there merit to plaintiff's argument that section a of the Debtor and Creditor Law L Plaintiff argues, however, that the rule was changed with the enactment of sections and of the Debtor These sections of the Debtor and Defendant argues that, under New York Law , an insolvent debtor may properly assign assets to a creditor as security for an antecedent debt although the effect of the transfer will be to prefer that The intra-family conveyance was made for nominal Community Bank's immediate grantor was Ulmer.



As set forth above, the mere fact of the "springing power" in the chain of title The box on the power of attorney authorizing the agent to make gifts was not initialed. Therefore, Rodney was not authorized to make gifts of Section of that Article provides What constitutes fair con Under the statute a The Debtor and Creditor Law applies to Accordingly, it may be set aside by Orozco's creditor , the United States, pursuant to section of the Debtor and See supra note 5.



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Burden of Proof The The Pennsylvania Supreme Court has noted: Accordingly, Judge Kuo recommended that under Defendants have not opposed plaintiffs' motion insofar as it seeks summary judgment in their favor on this claim. Judgment was subsequently entered in favor of the United States and against Sheldon Hansel in the Because plaintiff is a creditor , see The conveyances were therefore fraudulent under New York law , and the Government is entitled to March 19, In an action by a judgment creditor pursuant to article 10 of the Debtor and Creditor Law , inter Accordingly, this Court finds that the August 26, conveyance was fraudulent under section of the N.

Law of Debtors and Creditors

Section provides that "[e]very conveyance made and every obligation incurred with actual intent, as Section of the Bankruptcy Code, authorizes the Trustee The "applicable law " upon which the Trustee relies is set Plaintiff is, however, bound by the With respect to the element of fair consideration, the Debtor and Creditor law definition is found in Section , which Fraudulent Conveyance Pursuant to It is the fraudulent intent that vitiates the Order reversed, on the law , with costs, and cross If proved at a trial, they would establish that petitioner was a creditor of the judgment debtor in and that thereafter a valuable corporate asset was transferred We disagree and now reverse.

The trustee further argued he could avoid the transfer under Section of the DCL and Section b of the See also Securities Investor The transfer was, therefore, made in fraud of the plaintiffs within the meaning of the sections of the Debtor and Creditor Law hereinbefore referred to. As for the necessity of a judgment to maintain the cause of action set out in the supplemental complaint, based on article 10 of the Debtor and Creditor Law as added by Our algorithms sense that you may get better results by trying out the same excerpt in our CaseIQ TM interface.

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