- 11 U.S.C.
Falcon Creditor Trust v. First Ins. Funding Corp. (In re Falcon Prods. Inc.)
Jan
30
2009
Ruling
On remand, bankruptcy court reaffirmed that payment on claim that was fully secured at time of transfer was not preferential.
Procedural posture
After the Eighth Circuit Bankruptcy Appellate Panel (BAP) reversed its grant of summary judgment in favor of defendant finance company and against plaintiff creditor trust, which had sought to avoid and recover transfers alleged to be preferential per 11 U.S.C.S. § 547, the court, as ordered, considered defenses asserted by the company and the actual effect of the transfers per the Supreme Court's ruling in Palmer Clay Products Co. v. Brown.
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Court
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