Former HFZ exec transferred luxury cars to wife to avoid paying lender: lawsuit – Crain’s New York Business

The luxury cars and money from the mansion sale represented virtually all of Meir’s assets, supposedly leaving him with nothing, “and, yet, Meir and Bartolacci now reside in a $150,000-per-month rental property in Miami Beach,” according to the lawsuit.

YH initially sued Meir in November 2020 over his personal guarantee on about $20 million in loans YH made to HFZ Capital, and the court granted YH a summary judgment for the money in April, the lawsuit says.

However, Meir had created a “sham operating agreement” for his Hamptons mansion in October 2020, as HFZ was collapsing and a lawsuit from YH was forthcoming, that gave him an excuse to transfer proceeds of its sale to his wife, according to the suit. He also rushed to close the deal before the court ruled that he had to pay YH the money and ultimately sold the house for about $44 million on April 5, the lawsuit says.

Bartolacci used about $1.6 million of the fraudulently transferred money from the sale to prepay rent on her and Meir’s luxury Miami Beach rental property, and about $5.7 million is still unaccounted for, according to the lawsuit.

Meir and Bartolacci also tried to secretly auction off their luxury automobiles through eBay and small car brokers in New Jersey and California after YH received its summary judgment, the lawsuit alleges. His fleet includes a 2001 Mercedes-Benz G500 Cabriolet, a 2018 Porsche GT2, a 2019 Porsche 911 and a 2021 Mercedes-Benz GLS63 AMG, which was purchased with money from the sale of the Hamptons mansion, according to the lawsuit.

YH is asking the court to make Bartolacci pay it the roughly $12.6 million and give them the fleet of luxury cars or their value.

The attorney for YH declined to comment.

Meir’s attorney, Larry Hutcher, strongly denied the lawsuit’s claims.

“We have rejected all of these allegations repeatedly,” he said.

Meir and his former company, HFZ, have been besieged with law…….

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The luxury cars and money from the mansion sale represented virtually all of Meir’s assets, supposedly leaving him with nothing, “and, yet, Meir and Bartolacci now reside in a $150,000-per-month rental property in Miami Beach,” according to the lawsuit.

YH initially sued Meir in November 2020 over his personal guarantee on about $20 million in loans YH made to HFZ Capital, and the court granted YH a summary judgment for the money in April, the lawsuit says.

However, Meir had created a “sham operating agreement” for his Hamptons mansion in October 2020, as HFZ was collapsing and a lawsuit from YH was forthcoming, that gave him an excuse to transfer proceeds of its sale to his wife, according to the suit. He also rushed to close the deal before the court ruled that he had to pay YH the money and ultimately sold the house for about $44 million on April 5, the lawsuit says.

Bartolacci used about $1.6 million of the fraudulently transferred money from the sale to prepay rent on her and Meir’s luxury Miami Beach rental property, and about $5.7 million is still unaccounted for, according to the lawsuit.

Meir and Bartolacci also tried to secretly auction off their luxury automobiles through eBay and small car brokers in New Jersey and California after YH received its summary judgment, the lawsuit alleges. His fleet includes a 2001 Mercedes-Benz G500 Cabriolet, a 2018 Porsche GT2, a 2019 Porsche 911 and a 2021 Mercedes-Benz GLS63 AMG, which was purchased with money from the sale of the Hamptons mansion, according to the lawsuit.

YH is asking the court to make Bartolacci pay it the roughly $12.6 million and give them the fleet of luxury cars or their value.

The attorney for YH declined to comment.

Meir’s attorney, Larry Hutcher, strongly denied the lawsuit’s claims.

“We have rejected all of these allegations repeatedly,” he said.

Meir and his former company, HFZ, have been besieged with lawsuits since at least 2020, with multiple lenders and subcontractors claiming they are owed millions. Meir left HFZ at the end of 2020, and his former colleague Ziel Feldman later filed an explosive lawsuit against him claiming that Meir had stolen millions from the company.

HFZ lost control of the XI, its marquee luxury condo project, late last year, with the Witkoff Group and Access Industries taking over.

Source: https://www.crainsnewyork.com/real-estate/former-hfz-exec-transferred-luxury-cars-wife-avoid-paying-lender-lawsuit