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Arkansas Dev. Fin. Auth. v. Rice (In re Yarnells Ice Cream Co.)

Arkansas Dev. Fin. Auth. v. Rice (In re Yarnells Ice Cream Co.)

Ruling
Trustee with constructive notice of deed could not avoid mortgage.
Procedural posture

The Arkansas Development Finance Authority (ADFA), an agency of the State of Arkansas, filed this adversary proceeding against the chapter 7 trustee, seeking turnover of property pursuant to 11 U.S.C.S. § 542. The Trustee filed an answer to the complaint and also filed a counterclaim against ADFA. Before the court was the ADFA's motion for summary judgment. Also before the court was the Trustee's motion for summary judgment.

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Commercial opinion summary, case decided on February 05, 2013 , LexisNexis #0213-121