10-4 W. 108TH ST. REALTY v. REDWOOD DEV

The conveyance of the entire proceeds of the sale of the closely-held corporate defendant's only asset to defendant-appellant and his partner was fraudulent as it was made without fair consideration and rendered the debtor insolvent (Debtor and Creditor Law §§ 273, 275). Such conveyance is fraudulent without regard to the intent of the transferor ( see, Julien J. Studley, Inc. v. Lefrak, 66 A.D.2d 208, 213, affd 48 N.Y.2d 954). The court thus properly set aside the conveyance to the extent necessary to satisfy the judgment previously granted against the corporate defendant.

Concur — Rosenberger, J.P., Ellerin, Wallach and Tom, JJ.