Rentas v. Banco Bilbao Vizcaya Argentaria PR (In re Velazquez)
Oct
24
2008
Ruling
Attachment of funds by bank within 90 days of petition date was avoidable.
Procedural posture
Plaintiff, the chapter 7 trustee, brought an action to avoid a preferential transfer pursuant to 11 U.S.C.S. § 547(b) against defendant bank, asserting that the debtor's estate owned the proceeds from the sale of certain real property that were deposited by the debtor into a corporation's account, and then were attached by the bank. The bank claimed that the attached funds did not belong to debtor; the trustee claimed that they did.
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Court
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