and Charlene D. Davis, Asst. Golden Acres continued to be current on the mortgage while under the Capanos' control until May 1, 1976, when it failed to make the mortgage payment then due. The defendants put off HUD's collection efforts to pay themselves from Golden Acres' rents. In the present case, there may be similar risks to incorporation of state law as the standard to apply. Hier ein kleines Dankeschön! In the present case, no federal statute applies to the question of whether prejudgment interest should be granted. The United States of America, representing the interests of the Department of Housing and Urban Development (HUD), filed this suit against defendants Golden Acres, Inc., J.L. While no corporate records for the period after 1978 have been introduced, defendants have also admitted that the value of the assets of Golden Acres was less than the value of its liabilities for the years 1976 to 1981, inclusive. Accordingly, on the same day that the mortgage and Regulatory Agreement were executed, the Woodalls personally executed a promissory note and memorandum of agreement with and to J.L. We do note that Furthermore, with respect to the broad language of the cases cited by defendants, we find that the Delaware test for piercing the corporate veil is altogether compatible with the federal analysis laid out in In order to determine the federal alter ego standard, the Defendants do not deny that Golden Acres was undercapitalized, and undercapitalization Defendants' thinly veiled estoppel argument lacks merit for two reasons. A-183. Court Records found View. The language of the Thus, despite the existence of liquidated damages in this case, and the fact that the debts involved are owed to the Federal Government, we do not feel constrained to grant plaintiff's request for an assessment of prejudgment interest. As Donald A. Myers, a Director in HUD's Multi-Family Housing Management Division, testified at trial, Golden Acres fell under HUD's 221(d)(4) program. Edit Profile. Sovereign immunity bars assertion of certain defenses against the United States, such as laches and state statutes of limitation, when the Government sues to enforce its rights.
of Justice, Wilmington, Del. Thereafter, Golden Acres failed to make sufficient payments to bring the loan current. Because Golden Acres is now a defunct corporation, it is apparent that the default judgment by itself is worthless unless the corporate veil is pierced. Neither of the parties has been able to point us to any relevant common law authority suggesting specific formula for setting the amount of prejudgment interest to be assessed. The Mortgage Note was secured by a mortgage encumbering the project. Christopher has 4 jobs listed on their profile. In order to ensure the promotion of the federal objectives of the NHA and uniform enforcement of HUD-held loan agreements, the federal alter ego standard must govern the Capanos' liability. On April 15, 1988, we granted plaintiff's motion for summary judgment against J.L. 2004 nahm Kohn Schauspielunterricht bei Manfred Schwabe, Christoph Hilger und Ursula Michaelis und absolvierte im Folgejahr eine Ausbildung in einem … At trial, we determined that plaintiff was entitled to a default judgment against defendant Golden Acres in the sum of $991,516.23, as of April 18, 1988. M. Capano Tr. Capano, Inc., the Capanos did not consider the Woodalls' debt to J.L. Capano, Inc., Joseph L. Capano, and Mario B. Capano, (the Capanos) for violation of the Federal Priority Statute, The issues now before the Court are whether to award prejudgment interest on the $466,760.54 judgment against the Capanos and whether to pierce the corporate veil of Golden Acres, Inc. ("Golden Acres") and hold defendants J.L. Golden Acres, Inc. was declared void and defunct by the Delaware Secretary of State on March 1, 1983, for nonpayment of franchise taxes. Actions for breach of HUD's Regulatory Agreement arise under and are determined by federal law. In March, 1972, P. Donald Woodall hired Joseph L. Capano to construct an 88-unit apartment project located in New Castle County, Delaware. The First Amended Complaint charges that defendant Golden Acres breached its Regulatory Agreement with HUD; that the payments in violation of the Regulatory Agreement should have been held in trust for plaintiff; that defendants violated the Federal Priority Statute, A default was entered against defendant Golden Acres pursuant to Rule 55(a), Fed.R.Civ.P., for failure to plead or otherwise defend against the Complaint and the First Amended Complaint.
of Justice, Wilmington, Del. Thereafter, Golden Acres failed to make sufficient payments to bring the loan current. Because Golden Acres is now a defunct corporation, it is apparent that the default judgment by itself is worthless unless the corporate veil is pierced. Neither of the parties has been able to point us to any relevant common law authority suggesting specific formula for setting the amount of prejudgment interest to be assessed. The Mortgage Note was secured by a mortgage encumbering the project. Christopher has 4 jobs listed on their profile. In order to ensure the promotion of the federal objectives of the NHA and uniform enforcement of HUD-held loan agreements, the federal alter ego standard must govern the Capanos' liability. On April 15, 1988, we granted plaintiff's motion for summary judgment against J.L. 2004 nahm Kohn Schauspielunterricht bei Manfred Schwabe, Christoph Hilger und Ursula Michaelis und absolvierte im Folgejahr eine Ausbildung in einem … At trial, we determined that plaintiff was entitled to a default judgment against defendant Golden Acres in the sum of $991,516.23, as of April 18, 1988. M. Capano Tr. Capano, Inc., the Capanos did not consider the Woodalls' debt to J.L. Capano, Inc., Joseph L. Capano, and Mario B. Capano, (the Capanos) for violation of the Federal Priority Statute, The issues now before the Court are whether to award prejudgment interest on the $466,760.54 judgment against the Capanos and whether to pierce the corporate veil of Golden Acres, Inc. ("Golden Acres") and hold defendants J.L. Golden Acres, Inc. was declared void and defunct by the Delaware Secretary of State on March 1, 1983, for nonpayment of franchise taxes. Actions for breach of HUD's Regulatory Agreement arise under and are determined by federal law. In March, 1972, P. Donald Woodall hired Joseph L. Capano to construct an 88-unit apartment project located in New Castle County, Delaware. The First Amended Complaint charges that defendant Golden Acres breached its Regulatory Agreement with HUD; that the payments in violation of the Regulatory Agreement should have been held in trust for plaintiff; that defendants violated the Federal Priority Statute, A default was entered against defendant Golden Acres pursuant to Rule 55(a), Fed.R.Civ.P., for failure to plead or otherwise defend against the Complaint and the First Amended Complaint.