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Plaintiffs,
vs. REPORT AND RECOMMENDATIO
NJ
and WILLIAM GANGI,
Defendants, =
Pa co
CD
r,..
BACKGROUND
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Lawrence has engaged in several fraudulent transfers designed to
place his assets beyond Bear Stearns' reach and has failed to
ANALYSIS
the practice and procedure of the state in which the district court
this Court turns to Florida law for guidance on how to enforce the
outstanding judgment.
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Under section 56.29, "a judgment creditor may treat an
attempted fraudulent transfer of property to which his debtor had
1061, 1062 (Fla. 3rd DCA 1989); Juno by the Sea Condominium
Apartments, Inc. v. Juno by the Sea North Condominium Ass'n, 419
So.2d 399 (1982); Mission Bay Campland, Inc.. v. Summer Financial
Corp., 72 F.R.D. 464 (1976).
In the instant case, the property rights of the Lawrence
Family Trust and Rivers Edge, Inc. cannot be adjudicated by this
Court unless the Trust and the corporation are impleaded as
parties and given an opportunity to defend their assets. Bear
Stearns has not yet moved to implead such third parties. Thus
this Court may not set aside the transfers to such third parties at
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this point in the proceedings.
Bear
Stearns has produced insufficient evidence concerning the
conveyance of these assets. Although the Court acknowledges that
Bear Stearns has undoubtedly been delayed and hindered by
Lawrence's failure to disclose and remember the location of various
assets, it cannot find from the limited evidence presented that the
RECOMMENDATION
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CJ,
WILLIAM C. TURNOFF
c_
Chief United States Magistrate Judge
- -r,
cc : Honorable James Lawrence King
counsel of record
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UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
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and the same is hereby, DENIED WITHOUT PREJUDICE.
DONE and ORDERED in Chambers at the United States District
Courthouse, Federal Justice Building, Miami, Florida, this 10th day
of September, 1996.
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