New York

Warning: The following opinion is provided for purposes of discussion only. We have not Shepardized™ this opinion, and do not know the subsequent disposition of this case nor whether the effect of the opinion has been overruled or superceded by other law.

Madison Hudson Associates LLC v. Neumann,
No. 2928 (N.Y.App.Div. 02/24/2004)

NEW YORK SUPREME COURT, APPELLATE DIVISION, FIRST DEPARTMENT

2928

2004 NYSlipOp 01225

February 24, 2004

MADISON HUDSON ASSOCIATES LLC, ET AL., PLAINTIFFS-RESPONDENTS,
v.
JOSEPH NEUMANN, ET AL., DEFENDANTS-APPELLANTS.

Sanford M. Goldman

Brian M. Cogan

Richard Gabriele

Tom, J.P., Andrias, Saxe, Ellerin, Marlow, JJ.

This opinion is uncorrected and subject to revision before publication in the Official Reports.

Order, Supreme Court, New York County (Charles Ramos, J.), entered August 8, 2003, which, to the extent appealed from as limited by the briefs, denied defendants' motions for summary judgment, unanimously affirmed, without costs.

Issues of fact exist, precluding summary judgment, inter alia, the specific terms of a joint venture agreement between the parties; the possible modification thereof by the November 13 letter agreement; and the conduct of the Achenbaum defendants. With respect to the alleged fraudulent conveyance, the determination of insolvency, or what constitutes fair consideration under Debtor and Creditor Law § 273, is generally one of fact to be determined by the circumstances of a particular case (Matter of American Inv. Bank v Marine Midland Bank, 191 AD2d 690, 691-92).

We have considered defendants' remaining arguments and find them to be without merit.

THIS CONSTITUTES THE DECISION AND ORDER OF THE SUPREME COURT, APPELLATE DIVISION, FIRST DEPARTMENT.

ENTERED: FEBRUARY 24, 2004

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