Shin Yi Lien v. James Chen-Lu, et al.
Published: Aug. 23, 1997 | Result Date: Jun. 20, 1997 | Filing Date: Jan. 1, 1900 |Case number: BC139483 Verdict – $1,951,500
Judge
Court
L.A. Superior Central
Attorneys
Plaintiff
Defendant
Experts
Plaintiff
George S. Tiffany
(technical)
William J. Michiels
(technical)
Sim C. Hixson
(technical)
Facts
Plaintiff Shin-Yi Lien became judgment creditor of defendant James Chen-Lu for $1.4 million in November 1993. Before Lien's judgment was entered, however, Lu transferred three of his real property holdings to new owners, including his home for $1 million, an apartment building in Palos Verdes for $750,000, and another apartment building in Los Angeles for $1.5 million. Each of the transactions was processed through regular 30/45 escrow, including two properties which were "purchased" by different buyers with bank loans (and thus secured by lender's trust deeds) of $1 million and $500,000 respectively. The plaintiff brought this action against the defendants based on fraudulent conveyance theory of recovery.
Settlement Discussions
The plaintiff made a C.C.P. º998 settlement demand for transfer of all of the defendant/transferees' interests in these properties, reflecting equity value of roughly $1 million after the plaintiff's fees and costs. The defendants made a settlement offer of $200,000 after commencement of trial.
Damages
The plaintiff claimed $1,951,500 in damages.
Other Information
The verdict was reached approximately one year and seven months after the case was filed.
Deliberation
2 days
Poll
12-0
Length
21 days
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