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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Gomez v. Independence Management of Delaware, Inc., 967 A.2d 1276 (2009)

Citation
Gomez v. Independence Management of Delaware, Inc., 967 A.2d 1276 (2009)
Parent Document
Gomez v. Independence Management of Delaware, Inc., 967 A.2d 1276 (2009)
Jurisdiction
DC (municipal)
Effective Date
2009-03-26

Other Sections in This Document (161)

Full Text

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This sequence of events is contested by IMC, which claims that the property was transferred to IMDel on June 21, before the Stock Sale Agreement was signed. The record contains two versions of the deed, identical except for the date. The date of the authentic deed and the date of its delivery are contested material facts which may prove determinative in deciding whether the transfer of the Eldon to IMDel was a mere reorganization of corporate assets, or a thinly disguised sale to a third party. There is no doubt that general and absolute title was transferred from IMC to IMDel, and there is at least a respectable argument that this occurred in return for consideration of value which flowed from L Street Building to IMC. Therefore, this transaction may well have been a sale under subsection (a). *1284 D. Appellees Misplace Their Reliance Upon Wallasey Tenants