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Vol. 3 No. 155 Decisions Released August 17, 1995 STATE COURT CASES CORPORATIONS — SHAREHOLDER LIABILITY 12-3-6393 ERA Advantage Realty, Inc. v. River Bend Development Co. Inc., et al. Law Div. (10 pp.) In a case where corporation, after contracting with real estate broker to rent warehouses, dissolved and sold site to a prospective renter who realtor had brought to the property, without providing for a commission to realtor, and realtor obtained a judgment for a commission, the dissolved corporation’s individual shareholders are liable to the realtor to the extent of their share of the proceeds of the company’s sale, and realtor did not have to bring separate proceedings against the individuals, since they were on notice of claim. [Approved for publication Aug. 16, 1995.] [Available online in N.J. Full-Text Decisions.] FAMILY LAW 20-2-6394 Annina Suvino Aprea v. Douglas Suvino, App. Div. (6 pp.) Judge’s order declaring the parties’ son to be emancipated and eliminating child-support payments, both retroactively, is affirmed, since son had ceased attending college after his freshman year, returned home to live with his mother, secured a full-time job and made plans to marry, which met the terms of “emancipation” as defined by the parties’ divorce agreement. FEDERAL COURT CASES ATTORNEYS — REAL ESTATE ESCROW FUNDS 04-7-6395 Peter T.D. Murphy, et al. v. City Federal Savings Bank, et al., U.S. Dist. Ct. (16 pp.) In a case where condominium purchasers withdrew and sought return of their purchase deposit, which was unavailable due to depletion of escrow funds and insolvency of bank that issued letter of credit securing deposits, former purchasers’ motion seeking partial summary judgment against attorneys who set up special escrow account is denied, since (1) purchasers are barred by equitable estoppel from claiming that attorneys delayed in returning deposit when they first requested it (at which time there was sufficient cash in the escrow fund), since purchasers and sellers continued to negotiate toward a closing, and (2) purchasers’ claims that attorneys were strictly liable as the escrow fund’s insurers, or were negligent in their “control” over the account, are not supportable. BANKRUPTCY — ERISA 42-6-6396 In the matter of: Jack I. Schwartz; Den Norske Bank v. Jack I. Schwartz, U.S. Bankruptcy Ct. (23 pp.) Although trustee’s and creditor’s motion to invalidate exemption claimed by debtor for IRA account as a fraudulent transfer is timely even though it wasn’t filed within 30 days of the conclusion of first creditors’ meeting–since there were ambiguities present in the debtor’s exemption schedule, which he later amended–the motion is denied, since the debtor permissibly chose state law exemptions, which exempt the IRA, and the state exemptions are not preempted by ERISA pursuant to the ERISA savings clause. BANKRUPTCY — LANDLORD/TENANT — FRAUD 42-6-6397 In re: Edward S. Cohen; Hilda DeLaCruz, et al. v. Edward S. Cohen, U.S. Bankruptcy Ct. (21 pp.) Where experienced landlord overcharged tenants in violation of rent control ordinance, and did not reimburse any of the tenants for the overcharged amounts when the Rent Leveling and Stabilization Board determined the violation, his conduct constituted reckless disregard of the truth, which supports a finding of actual fraud, and the amounts owed to the tenants for the overcharge, therefore, are nondischargeable. (This opinion constitutes the underlying adjudication of the landlord’s fraud, after which the court decided DDS No. 42-6-6389, reported yesterday, discussing the damages due the tenants.) BANKRUPTCY — PREFERENTIAL PAYMENTS 42-6-6398 In re: Parkline Corp.; Michael McLaughlin, Trustee v. Hoole Machine and Engraving Corp., U.S. Bankruptcy Ct. (18 pp.) Trustee’s complaint against engraver–which made signs for elevator cabs produced by the debtor–seeking to avoid allegedly preferential payments made to engraver by debtor within 90 days of the filing of the debtor’s petition, is dismissed, since the transfers were made in the ordinary course of business, on the same terms and in the same manner as they had been over the parties nine-year relationship. EDUCATION — DISABILITIES — FEES AND COSTS 16-7-6399 T.K., Parent v. Bd. of Educ. of Union Twp., U.S. Dist. Ct. (21 pp.) On mother’s summary-judgment motion – seeking attorneys’ fees and costs for various court proceedings she had filed to obtain educational services for her neurologically impaired child under the Individuals with Disabilities Education Act — the court determines that the mother was the prevailing party at one mediation session, and awards her costs for that proceeding, but the mother failed to sustain her burden as to the other proceedings, and the motion as to those is denied.

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