Prestige Caterers ended up suing Stanley Siegel and was ultimately awarded a money judgment against him.
Although he had given all his property to his son, and was "insolvent," Prestige asked the Nassau County Supreme Court to treat any transfer as a "fraudulent conveyance." And when it later denied Siegel's request to dismiss the case, he appealed.
Even though some of the property--like social security benefits--couldn't be used to satisfy the debt, the Appellate Division, Second Department, still thought dismissal of the litigation was premature given that there were other non-exempt assets which might have been transferred.
That's the turn?
To view a copy of the Appellate Division's decision, please use this link: Prestige Caterers, Inc. v. Siegel