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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 adjudication of bankruptcy was
imminent. 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
circwnstances. 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
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
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note, the inadequate consideration for the note. and the fact
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that the $25,000 note was past due, constitutes fraudulent cir-
cumstances which require that the satisfaction of the $5,200 note
and the bill of sale be cancelled and set aside as a fraudulent -
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` transfer.
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~ 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 5100.00.
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The interest past due on the $5,200 promissory note
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e is $494.40.
It is thereupon
i ORDERED and ADJUDGED as follows:
1. Plaintiff, Port St. Lucie Bank, recover from
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