Real Estate Firm's Bid For Ex-Honcho's Private Jet Grounded

By Chris Villani (September 12, 2019, 3:45 PM EDT) -- A real estate firm will not be able to prevent a bank from taking a private jet it says was fraudulently acquired by a former firm executive, a Massachusetts judge ruled Thursday, because the alleged fraud does not prevent the executive, an attorney, from selling the plane to someone else.

U.S. District Judge Timothy S. Hillman granted a summary judgment motion filed by UniBank for Savings, a Massachusetts bank that claimed to be the rightful creditor for the plane, a 1997 Gulfstream. The order denies an intervenor bid by SBK Holdings USA of Beverly Hills, which claimed its former president and...

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