Royal v. First Interstate Bank (In re Trierweiler)
Nov
21
2011
Ruling
Transfer of note and mortgage between lenders was not avoidable.
Procedural posture
Chapter 7 trustee filed an adversary proceeding against defendants, a bank and a corporation that provided electronic registration services for mortgages, seeking a determination that the bank's security interest in a note which two debtors gave the bank before they declared chapter 7 bankruptcy could be avoided under 11 U.S.C.S. § 544(a)(1) and (3). The case was tried to the court.
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Court
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