Meyer Chetrit is again facing accusations of shielding assets from creditors. Maverick Real Estate Partners has filed a new lawsuit against the developer, who belongs to the prominent Chetrit family. The lender alleges that a recent legal document between Chetrit and his business partner Gadi Ben Hamo is a fraudulent move to avoid paying a $132 million judgment.
This case adds to several lawsuits in which lenders claim Chetrit creates false debts to remove assets from his name and prevent them from recovering money owed. The latest dispute centers on a document stating that Chetrit owes Ben Hamo his stake in four companies.
Plaintiff attorneys argue that the document shows signs of fraud because it was executed soon after the judgment and involves a close associate. Ben Hamo maintains that the debt relates to 64-11 Queens Boulevard, property he co-owned with Chetrit. They purchased the former Queens Motor Inn for $13.3 million in 2017. Ben Hamo told The Real Deal he has covered the mortgage for seven years as an act of goodwill toward the Chetrit family.
“They have no money. They’ve been struggling for five years,” said Ben Hamo. “They are my partner and they are my family and I’m trying to help him.”
Last month, Ben Hamo and Chetrit sold the property for $18.8 million, according to Traded. Ben Hamo plans to file a counterclaim against Maverick, accusing them of seeking disruption to acquire more debt at reduced prices.
“It’s full of shit,” Ben Hamo said. “This time he’s dealing with an Israeli guy who will teach him a lesson.”
A lawyer representing Penn Hotel Junior, counsel for Maverick, did not respond immediately when contacted about these allegations.
The $132 million judgment stems from loans linked to a Midtown development site where Chetrit had planned a hotel project before defaulting; Maverick seized this site in 2023, with judgment entered by the court in June.
Maverick previously made similar claims regarding another debt: they argued that documentation of a $21 million debt from Chetrit to his late brother’s estate was also intended to avoid paying creditors.
Last month, both parties agreed to void this confession of judgement.
“The Estate believes it is in its best interest and the best interests of its beneficiaries not to engage in protracted and expensive litigation concerning the validity of the confession of judgement,” both wrote in their agreement.
Previously, Elliott Joffe—a lawyer for Baron Samson who represented Meyer during an earlier Maverick dispute—stated attorneys “deny in the strongest terms possible any and all allegations of fraud or wrongdoing.”
In another related case involving Mack Real Estate Credit Strategies, plaintiffs contend that canceling such legal documents does not prevent further efforts by Chetrit to shield assets.
“Meyer can continue to use the underlying debt as a pretext to improperly transfer funds to insiders and/or related entities, hiding his assets from creditors, and improperly rendering himself judgement proof,” stated their complaint.
Mack seeks recovery of $220 million connected with five loan defaults; this matter remains unresolved in court proceedings.
Chetrit’s representatives have not responded publicly regarding these matters.
