The plaintiffs sought to set aside a 2011 transaction in which the defendant Hanemaayer sold his controlling interest in a mining company to the defendant Lowe, alleging it was a fraudulent conveyance intended to defeat their 2014 judgment against Hanemaayer.
The Superior Court of Justice dismissed the action.
The court found insufficient evidence that Hanemaayer acted with intent to defraud future creditors at the time of the sale, noting the transaction was public, the price was reasonable given the circumstances, and the plaintiffs' judgment was obtained three years later.
Furthermore, the court held that even if Hanemaayer had fraudulent intent, Lowe acted in good faith and paid good consideration without knowledge of any such intent.
