Florida Based Investment Management Firm Sues Real Estate Advisory Firm and its Managing Partners for Return of Alleged “Fraudulent Transfers”
May 7, 2021, Middle District of Florida – Plaintiff Debtor, Jefferey L. Miller Investments, Inc. sues Defendants Premier Realty Advisors, LLC and its two managing partners, Steven Stenmark and Mathew Nine, for return of alleged “fraudulent transfers.”
Allegedly, the Debtor “held an unsatisfied judgment” against Defendant Premier Realty Advisors, LLC (“Premier”) for $372,223.44, plus interest accruing at the federal judgment rate under 28 U.S.C. § 1961. Premier is a Florida limited liability company, allegedly used by its managing partners “to put properties under contract.” The Debtor was allegedly a creditor of Premier. Premier supposedly owed money to the Debtor in an unknown amount. As alleged in the complaint, Premier also “held a 20% partnership interest” in an entity known as 2000 S.P.I.D., LP. Allegedly, Premier “assigned its 20% partnership interest in 2000 S.P.I.D., LP to Talich, LLC for $100,000.00 as consideration.”
The complaint alleges that the $100,000.00 received by Premier in exchange for its 20% partnership interest “was not adequate consideration”. The complaint further contends that the transfer by Premier of its 20% partnership interest in 2000 S.P.I.D., LP was “made after the Bankruptcy Court entered an order awarding the Debtor entitlement to its fees and costs against Premier.”
Thus, Plaintiff argued that Premier’s transfer of its 2000 S.P.I.D., LP partnership interest to Talich, LLC was made “with the actual intent to delay, hinder, and/or defraud Debtor under Florida Statutes § 726.105(1)(a).” Plaintiff further adds that the alleged transfer was “made without Premier receiving reasonably equivalent value” and that Premier “was insolvent” at the time of the transfer or “became insolvent” as a result of the transfer.
Further, the complaint alleges that Premier was the “alter ego of its managing directors” as they “had absolute control and domination” over Premier as the managing members. Adding further, the complaint contends that Nine and Stenmark’s actions allegedly forced the Debtor to file bankruptcy and sell the properties at auction. Nine and Stenmark also allegedly “improperly used Premier” to sue the Debtor in state court for specific performance, and file a lis pendens “to effectively freeze title” on the Miller properties.
Accordingly, through its complaint, the Debtor requests the Court to find that the transfer of Premier’s 20% partnership interest in 2000 S.P.I.D., LP to Talich, LLC was a “fraudulent transfer” according to Fla. Stat. § 726.106(1); avoid Premier’s transfer of its partnership interest in 2000 S.P.I.D., LP or in the alternative, determine the amount of the asset transferred and enter a “money judgment for the value of the asset transferred”; requests judgment in its favor and against Nine and Stenmark, for damages, including interest, both prejudgment and post-judgment, for its attorneys’ fees and costs, and for any other relief this court deems just and proper.
The case is In re Jeffrey L. Miller Investments, Inc. in United States Middle District of Florida, Case 8:21-ap-00150-MGW