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at a time when Defendant and his wife were in financial ,jeopardy
and the corporations of Defendant were debtors in possession in
bankruptcy proceedings, and ad3udication of bankruptcy was
im~ainent. At that time, assets of the Defendant's corporations
unaccountably disappeared and some assets went to the Defendant,
and through him to the Garnishee. The assets which were the ~
consideration for both promissory notes referred to herein flowed
from the now bankrupt corporations to Defendant under questionable
circumstances. Only one of the original incorporators, a son -
Robert C. Amann, Jr., remained a stockholder, officer or director
of the corporation after the organizational meeting at which the
other incorporators resigned and the Defendant was elected
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president and manager. Garnishee alleges that there was valuable
consideration given for satisfaction of the 55,200 note and the
bill of sale, since Defendant was willing to compromise his rights
to obtain payment on the $25,000 note. However, because of the
relationship of Defendant with Garnishee, the fact that the sole
stockholder of the Garnishee is the Defendant's son, the insol-
vency of the Defendant at the time of the cancellation of the
note, the inadequate consideration for the note, and the fact
that the $25,000 note was past due, constitutes fraudulent cir-
~ cumstances which require that the satisfaction of the 55,200 note
and the bill of sale be cancelled and set aside as a fraudulent
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transfer.
The goods transferred by the Bill of sale have a value,
according to the Garnishee's treasurer, of at least 5500.00.
The benefits given to the Defendant during the time
of the garnishment have a value, according to Garnishee's
treasurer, of at least S100.00.
The interest past due on the $5,200 promissory note
is $494.00.
It is thereupon
ORDERED and ADJUDGED as follows:
1. Plaintiff, Port St. Lucie Bank, recover from
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