2 total
Motion to discharge CPL dismissed as plaintiffs established loaned funds were used to purchase the property.
The plaintiffs obtained a default judgment against the defendants for an unpaid loan and registered a Certificate of Pending Litigation (CPL) on the matrimonial home of two of the defendants.
The defendant Satchwell moved to discharge the CPL, arguing the loan was not secured by the property.
The court dismissed the motion, finding that the plaintiffs had established a reasonable claim to an interest in the property because the uncontradicted evidence and deemed admissions showed the loaned funds were used to purchase the home.
Mareva injunction and CPLs granted against defendants alleged to have perpetrated a multimillion-dollar Ponzi scheme.
The plaintiffs brought a motion for a Mareva injunction and Certificates of Pending Litigation against the defendants, alleging they perpetrated a Ponzi scheme involving mortgage and securities fraud.
The court found a strong prima facie case of fraud, oppression, and conspiracy, noting that tens of millions of dollars were raised without proper compliance and were unaccounted for.
The court inferred a strong risk of dissipation of assets based on the defendants' conduct, including the listing of a $4 million house and suspicious property transfers.
The motion for the Mareva injunction and CPLs was granted.
