MEMORANDUM OF LAW AND AUTHORITIES
Fraudulent Conveyance
“First, any fraudulent conveyance claim is derivative: it is predicated upon an underlying debtor-creditor relationship. If the debt is satisfied, the creditor no longer has a cause of action to recover assets conveyed by a debtor to a transferee.” MFS/Sun Life Trust v. Van Dusen Airport Services, 910 F. Supp. 913 (1995).
“Nevertheless, under New York law a settlement agreement that is not fully executed will not extinguish the underlying debt or bar a fraudulent conveyance claim.” Loblaw Inc. v. Wylie, 50 A.D. 2d 4, 8, 375 N.Y.S. 2d 706, 710 (4th Dep’t 1975).
“A transfer is a constructive fraudulent conveyance if it is made without fair consideration, N.Y. Debt. & Cred. Law § 272, and (1) the transferor will be rendered insolvent, N.Y. Debt. & Cred. Law § 273, or (2) the transferor will be left with reasonably small capital, N.Y. Debt. & Cred. Law § 274, or (3) the transferor intends or believes that it will incur debts beyond its ability to pay as they mature, N.Y. Debt. & Cred. Law § 275.” Crowthers McCall Pattern Inc. v. Lewis, 129 B.R. 992, 998 (S.D.N.Y. 1991).
Intentional Infliction of Emotional Distress
“Under New York law, the tort of intentional infliction of emotional distress has four elements: (1) extreme and outrageous conduct; (2) intent to cause severe emotional distress; (3) a causal connection between the conduct and the injury; and (4) emotional distress.”
“New York sets a high threshold for conduct that is extreme and outrageous enough to constitute intentional infliction of emotional distress.” Gay v. Carlson, 60 F.3d 83, 89 (2nd Cir. 1995)
At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, The LegalPen will be able to prepare the legal document within the shortest time possible. You can send us your quick enquiry ( here )