Peckham v. Family Loan Co.
| Citation | 196 F.2d 838 |
| Decision Date | 13 May 1952 |
| Docket Number | No. 13488.,13488. |
| Parties | PECKHAM v. FAMILY LOAN CO. et al. |
| Court | United States Courts of Appeals. United States Court of Appeals (5th Circuit) |
Jay E. Darlington, Hammond, Ind., L. S. Julian, Richard E. Cotton, Miami, Fla., for appellant.
Garland M. Budd, W. G. Ward, Miami, Fla., for appellees.
Before HUTCHESON, Chief Judge, and BORAH and STRUM, Circuit Judges.
Plaintiff-appellant, R. E. Peckham, the assignee of an unsatisfied judgment in the amount of $824,933.33 and interest against Sol Meyer, now deceased, brought this action to uncover assets alleged to have been fraudulently transferred by the judgment debtor and to subject them to the payment of the judgment.
The sole question properly presented by this appeal is whether the court erred in holding that the plaintiff was estopped by a judgment against his predecessor in a prior proceeding.
The former proceeding, wherein the estoppel by judgment is claimed to arise, was brought by plaintiff's predecessor in the Circuit Court of Dade County, Florida, against Ferd S. Meyer individually and as trustee of a Meyer family trust.1 The complaint there alleged that the indebtedness of Sol Meyer had been reduced to judgment; that Sol had conveyed a described parcel of real estate to himself and his son Ferd as trustees of the family trust and also alleged, upon information and belief, that at various times unknown Sol conveyed to his son, Ferd, personal property of unknown description and value. The complaint charged that these conveyances to Ferd of real and personal property were without consideration but were voluntarily and fraudulently made with the intention of defrauding the judgment creditor. The prayer was to decree the described conveyance void and to have Ferd disclose the nature, value, and amount of any other property conveyed to him by his father, Sol. The cause came on to be heard and the state court held that the evidence adduced at the hearing before a master failed to show that Sol ever conveyed any property to Ferd. Accordingly, the court entered judgment, dismissing the complaint with prejudice.
The present action was brought in the United States District Court for the Southern District of Florida by R. E. Peckham, assignee for the creditors of the Meyer-Kiser Bank of Indianapolis, Indiana, against Family Loan Company, a Florida corporation, Ferd S. Meyer, individually and as trustee, Rosalyn A. Meyer, James Meyer, individually and as trustee, Hoke T. Maroon, individually and as trustee, all citizens and residents of the state of Florida. In substance the complaint alleged that while Sol was indebted upon the cause of action for which judgment was recovered and while his assets were insufficient to pay the indebtedness, and with the intent to cheat, hinder, delay and defraud the judgment debtor, he transferred his assets by the following manipulation and device: He promoted the organization and business of the Family Loan Company and was the actual or equitable owner of the capital which went into the corporation, or a substantial part thereof. He also loaned or furnished additional money and property to the corporation, which it used in its business. In return, the corporation issued its capital stock and debentures but, instead of having them issued in his name, Sol caused or knowingly permitted same to be issued in the names of his relatives and business associates, the defendants here.
In holding that the plaintiff was estopped by the judgment entered in the state court proceedings and dismissing the cause with prejudice, the court below found that the matter sought to be litigated herein should have been litigated in the prior case. This appeal followed.
We think the order dismissing the case was erroneously entered and we hold that Case 63001 in the Circuit Court of Dade County, Florida, does not bar the present action.
In Peckham v....
To continue reading
Request your trial
-
Howard v. Ladner
...S.Ct. 807; Cromwell v. County of Sac., 94 U.S. 351, 353, 24 L.Ed. 681; Russell v. Place, 94 U.S. 606, 24 L.Ed. 214; Peckham v. Family Loan Co., 5 Cir., 196 F.2d 838, 840, 841; Travelers Ins. Co. v. Commissioner of Internal Revenue, 2d Cir., 161 F.2d 93, 95; A.L.I., Restatement, Judgments, S......
-
Hyman v. Regenstein, 16816.
...v. Butler, 5 Cir., 1931, 47 F.2d 482; Driggers v. Businessmen's Assurance Co. of America, 1955, 5 Cir., 219 F.2d 292; Peckhan v. Family Loan Co., 5 Cir., 1952, 196 F.2d 838. See Millar, The Premises of the Judgment as Res Judicata in Continental and Anglo-American Law, 39 Mich.L.Rev. p. 1 (......
-
Donahue v. Davis
...Gordon, Fla., 59 So.2d 40, 43, or those 'rights or questions * * * necessarily involved in the conclusions reached'. Peckham v. Family Loan Co., 5 Cir., 196 F.2d 838, 839. See also Gray v. Gray, The trial court has indicated in the final decree appealed from that the plaintiffs have estoppe......
-
Driggers v. Business Men's Assurance Co. of America
...those in the first action, the rule to be applied is that of estoppel by judgment rather than true res judicata. Peckham v. Family Loan Co., 5 Cir., 196 F.2d 838, 840, 841. "Where the second cause of action between the parties is upon a different claim the prior judgment is res judicata not......