Narrative Opinion Summary
This case concerns an appeal against a district court's summary judgment finding a property conveyance by Richard Gleicher fraudulent. The FDIC, standing in the place of the Bank of New England, alleged that Gleicher transferred property to a trust he controlled to hinder creditors. Gleicher failed to respond timely to the FDIC's summary judgment motion and did not provide sufficient evidence to dispute the claims of fraudulent intent. The court assessed various 'badges of fraud,' including the transfer's timing, Gleicher's insolvency, and lack of consideration, ultimately affirming the fraudulent nature of the conveyance. The FDIC's motion was supported by strong circumstantial evidence, which Gleicher's affidavit did not effectively counter. Procedural noncompliance by Gleicher, including missing deadlines and failing to attend hearings, was noted, although the appeal continued due to lack of prejudice to the FDIC. The court's ruling emphasized that pro se status does not excuse procedural lapses, particularly since Gleicher was represented by counsel. The appeal's outcome resulted in a double cost assessment against Gleicher for pursuing a frivolous appeal, reinforcing the fraudulent transfer conclusion under both federal and Massachusetts law.
Legal Issues Addressed
Assessment of Fraudulent Intentsubscribe to see similar legal issues
Application: The court evaluates Gleicher's intent using circumstantial evidence, such as asset transfer timing and lack of consideration, to affirm fraudulent conveyance.
Reasoning: Specifically, Gleicher transferred his only unencumbered asset to a trust he controlled, with no documented consideration, shortly after a major creditor requested financial information.
Credibility of Affidavit Evidencesubscribe to see similar legal issues
Application: Gleicher's affidavit lacked credible support to refute allegations of insolvency and fraudulent intent.
Reasoning: Ultimately, the court finds significant deficiencies in Gleicher's claims and the affidavit's credibility.
Fraudulent Conveyance under Federal and Massachusetts Lawsubscribe to see similar legal issues
Application: The court reviews whether the transfer of property by Gleicher was intended to hinder, delay, or defraud creditors, relying on circumstantial evidence or 'badges of fraud.'
Reasoning: Both federal and Massachusetts fraudulent conveyance laws are relevant, allowing the FDIC to void transfers intended to hinder, delay, or defraud creditors.
Pro Se Status and Procedural Compliancesubscribe to see similar legal issues
Application: Gleicher's claim for leniency based on pro se status is refuted, as he was represented by counsel at relevant times.
Reasoning: The court maintains that pro se status does not exempt compliance with procedural rules, emphasizing that Gleicher was represented by two attorneys at the relevant time, undermining his claim of being a pro se litigant.
Sanctions for Procedural Noncompliancesubscribe to see similar legal issues
Application: Despite Gleicher's repeated procedural failures, the appeal was allowed to proceed due to lack of significant prejudice to the FDIC.
Reasoning: The primary issue for consideration is whether Gleicher's affidavit creates a triable question regarding his intent. The court notes that while dismissal is a severe action, it may be warranted for persistent noncompliance, especially given Gleicher’s conduct, which the court viewed as approaching willfulness.
Summary Judgment Standardssubscribe to see similar legal issues
Application: The court affirms summary judgment as Gleicher's affidavit fails to demonstrate a material dispute of fact regarding fraudulent intent.
Reasoning: The court reviews summary judgment decisions comprehensively, determining that such judgment is warranted when no genuine material fact dispute exists, and the moving party is entitled to judgment as a matter of law.