Forum Insurance v. Devere Ltd.

ORDER GRANTING DEFENDANT EGLIN’S MOTION FOR SUMMARY JUDGMENT

I. INTRODUCTION

On December 19, 1997, Forum Insurance Company (“Plaintiff’) initiated this action against defendants Devere Limited, Ephraim Kranitz, Thomas Comparet, Jerome Eglin, Jeja Investments, AYK, Inc., OTW Investments, and the law firm Kran-itz, Comparet, & Sarrow (“KCS”)- Plaintiff added Harrington Trust Limited as a defendant in its First Amended Complaint, filed January 22, 1998. Plaintiffs Second Amended Complaint (“SAC”) asserts two claims for relief: 1) conspiracy to commit fraudulent transfers in violation of the California Uniform Fraudulent Transfers Act, Cal. Civ.Code § 3439 et seq., and 2) breach of trust against defendant Harrington Trust only. On September 29, 1998, the court issued an order dismissing as time-barred all claims based on transfers committed prior to December 19, 1990. Def.’s Exh. A (Order of Judge Ronald S.W. Lew).

Defendant Eglin (“Defendant”) now moves for summary judgment on the grounds that 1) the Uniform Fraudulent Transfers Act (“UFTA”), as embodied in Cal. Civ.Code § 3439.07, offers only equitable remedies and limits recovery to property received via fraudulent conveyance,…