Wu
True Traditions, LC v. Wu
Opinion
Lead Opinion
Freeman, J.
ORDER AFFIRMING JUDGMENT OF BANKRUPTCY COURT
Appellant True Traditions, LC (“Appellant” or “TT”) appeals the judgment of the bankruptcy court avoiding a fraudulent conveyance of real property located at 415-417 Tehama Street, San Francisco, California (“Tehama Property”)- For the reasons stated herein, the judgment of the bankruptcy court is AFFIRMED.
I. BACKGROUND
A. Factual and Procedural Overview of this Case
This adversary proceeding'stems from, two bankruptcy cases involving a debtor, Richard (“Rick”) Louie, Jr., 1 who has gone to extraordinary lengths to conceal his assets.
On May 3, 2013, Appellee Carol Wu, the chapter 7 trustee for the individual bankruptcy estates of Rick and his wife, Stephanie Chan, filed the originating complaint in the underlying adversary proceeding in bankruptcy court seeking declaratory relief and to avoid fraudulent transfer. Appellees’ App. (hereinafter “ER”), ECF 24, Exh. 1. The complaint asserted that Rick and Stephanie had failed to disclose as their personal assets a brokerage account at Merrill Lynch; that funds from the Merrill Lynch account had been used to purchase the Te-hama Property in the name of Rick’s mother, Mary Louie; that…