- 11 U.S.C.
MCA Fin. Group Ltd. v. Hewlett-Packard (In re Fourthstage Techs. Inc.)
Nov
15
2006
Ruling
Insider status sufficient to give rise to avoidance could not be based solely on creditor's superior bargaining position.
Procedural posture
Trustee for the debtor's liquidating trust, sued creditor to recover payments made by the debtor pursuant to a settlement agreement. The trustee sought to set aside the payments as avoidable preferences under 11 U.S.C. § 547, alleging that the creditor was an insider of the debtor and the transfers were made within one year from the debtor's filing for bankruptcy. The creditor moved for summary judgment.
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Court
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