First National Bank Fairbanks v. Warren

On this appeal, we are presented with the question of whether Mr. Enzlers transfer of all his property to his wife should be set aside as a fraudulent conveyance. This case has its origins in an ill-fated business venture entered into between appellee Mr. Enzler and Mr. Gordon Frye in which Mr. Enzler agreed to demonstrate a certain model of Bellanca aircraft in return for a five percent commission on any sales generated by his demonstration. In furtherance of this plan, Mr. Enzler purchased a Bellanca airplane for the sum of $34,720.00, $27,517.90 of which he borrowed from the First National Bank of Fairbanks on a six-month note due November 16, 1969. The Bank entered into a security agreement with Mr. Enzler for the loan with the airplane as collateral.