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Tracing and Fraudulent Conveyances

David Debenham
Co-Chair of the McMillan Fraud Law Group

How often do fraud victims chase fraudsters only to find that at the end of the road the fraudster has conveyed all his or her assets to a family member, and gone bankrupt?    Despite the familiarity of this scenario, the path forward remains unclear to many.   In Esfahani v. Samimi,1 The Plaintiff obtained a judgment in Germany against the Defendant Kamran in 2007. An Ontario judgment was then obtained in 2009 recognizing the German judgment in the amount of $645,754.08 and finding it to be enforceable in the Superior Court of Ontario. The Plaintiff received no payments pursuant to the Judgment and as such brought a second lawsuit in 2011 claiming damages and pleading that Kamran fraudulently conveyed real estate to the Defendants in this lawsuit in order to evade payment of the Judgment. Kamran filed an assignment in bankruptcy on November 6, 2013 under the Bankruptcy and Insolvency Act (“BIA”). Kamran was discharged from bankruptcy on August 7, 2014. ....More