Citation Numbers: 177 Misc. 83
Judges: Bernstein
Filed Date: 8/22/1941
Status: Precedential
Modified Date: 1/12/2023
Motion to punish the judgment debtor for contempt for violation of the injunction against transfer of his property is granted, and he is fined the sum of $1,500, which, when paid, is to be credited on account of the judgment. (Matter of Resource Holding Corporation v. Friedman, 262 App. Div. 879.) Section 166 of the Insurance Law exempts the “ proceeds and avails ” of an insurance policy in favor of a third party beneficiary from claims of creditors of the assured. Those proceeds and avails include “loan values” of the-policy. When paid over to the assured,however, as was done here, the proceeds and avails ceased to