- 11 U.S.C.
Redmond v. Rainstorm Inc. (In re Lone Star Pub Operations LLC)
Jan
27
2012
Ruling
Transfer of purchase price of members' interests in debtor to members from debtor's account, which was used as a conduit, was not avoidable.
Procedural posture
Bankruptcy trustee brought an adversary proceeding against defendant members of a bankruptcy debtor seeking to avoid a transfer of funds to a purchaser of the members' interests in the debtor as a preferential or fraudulent transfer under 11 U.S.C.S. §§ 547, 548. The trustee moved for summary judgment.
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Court
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