- 11 U.S.C.
Quilan v. AFI Servs. LLC (In re AFI Servs. LLC)
Feb
07
2013
Ruling
Escrow became property of the estate where depositing investor failed to take action to preserve rights.
Procedural posture
Plaintiff investor sought the return of funds he placed into an escrow account on behalf of, and pursuant to an agreement with the debtor. He requested a declaration that the bankruptcy estate has no interest in the escrowed funds, and moved for partial summary judgment. The chapter 7 trustee opposed the motion and filed a counter-motion for summary judgment.
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Court
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