Alberts v. HCA Inc. (In re Greater Southeast Cmty. Hosp. Corp.)
Jan
18
2007
Ruling
Transferee pursuant to asset purchase agreement for subsidiary debtor which provided for setoff of funds was initial transferee from which trustee could recover.
Procedural posture
In a jointly administered chapter 11 proceeding, plaintiff, a liquidating trustee for debtors, brought an adversary action against defendant transferees seeking to recover transfers under the Illinois Uniform Fraudulent Transfer Act, 740 Ill. Comp. Stat. 160/1 et seq., pursuant to 11 U.S.C. § 544. One transferee filed a motion for summary judgment as to all counts against it in the trustee's third amended complaint.
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Court
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