Tamura

Introduction

This appeal contests that portion of a judgment which set aside as a fraudulent conveyance Yukio Tamura’s gift of $243,206 to his sons made one month after a jury had returned a verdict compelling him to pay in excess of $2 million. Because the funds were derived from a defined benefit pension plan, Yukio Tamura maintained that the moneys were entitled to the statutory exemption from execution accorded private retirement plans by section 704.115 of the Code of Civil Procedure. After taking evidence, the trial court, relying upon In re Bloom (9th Cir. 1988) 839 F.2d 1376 , found the exemption inapplicable because the plan had not been designed and used for retirement purposes. We find substantial evidence supports that determination and therefore affirm the trial court’s decision.

Factual and Procedural Background

The First Litigation and Tamura’s Transfer and Liquidation of Assets

In 1985, litigation commenced between Yukio Tamura (Tamura) and Yaesu Electronics Corporation, Yaesu Musen U.S.A., Inc., and Soka Enterprises, N.V. (collectively Yaesu). The litigation was based upon disputes arising out of a long-term business relationship between the…