2021 Judge Gambardella - Opinions
Judge Rosemary Gambardella -- Opinions signed in 2021
The issue before the Court is whether Debtor may amend his complaint to avoid the transfer of his Property to Defendants in tax foreclosure sale as a constructively fraudulent transfer under 11 U.S.C. § 548. Debtor filed the initial adversary complaint to avoid the transfer of his Property to Defendants as a preferential transfer under 11 U.S.C. § 547(b). This claim was dismissed on Defendants’ Motion for Summary Judgment. In so ruling, this Court held that the Debtor, at the time of the alleged preferential transfer, was not “insolvent” as that term is defined under 11 U.S.C. § 101(32)(A) so that as a matter of law, the Debtor could not set aside the transfer as preferential under 11 U.S.C. § 547(b). This Court holds Debtor meets the standard set forth under Fed. R. Civ. P. 15 such that the Motion for Leave to File an Amended Complaint is granted.
Ahmed Farooq Sakhe, Perkins vs North Parks, Case 15-32238, Adv. 16-01576, 12/17/2021
On an Adversary Complaint filed by the Chapter 7 Trustee, after trial, the issue before the Court was whether the Chapter 7 Debtor’s pre-petition transfer of approximately $1.5 million to Defendants in connection with certain commercial real estate transactions was fraudulent. The Court denied the Chapter 7 Trustee’s fraudulent transfer claims asserted pursuant to 11 U.S.C. § 544(b), N.J.S.A. § 25:2-25(b), N.J.S.A. § 25:2-30 and N.J.S.A. §25:2-27(a). The Court granted relief to the Chapter 7 Trustee on his contract claims finding that the Defendants breached the unambiguous terms of the subject contracts.
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