Panel orders payment after fraudulent transfer

By Marc Karlinsky Law Bulletin staff writer

Posted December 10, 2014 2:42 PM

A real estate executive must pay the earnings from a court settlement toward a separate judgment his company owes, a state appeals panel has ruled. The 1st District Appellate Court affirmed a trial court ruling that the firm’s CEO fraudulently transferred the insolvent company’s settlement funds to himself rather than paying the company’s debts. In June 2010, then-Cook County Circuit Judge Sheldon C. Garber entered a $270,333 judgment against Randolph Equities LLC for defaulting on an office space …

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