Schatz v. Imperial Capital Bank (In re Schatz)
Feb
18
2009
Ruling
Mortgage not recorded until just prior to petition date avoided as preferential transfer.
Procedural posture
Plaintiff bankruptcy debtor in possession brought an adversary proceeding against defendant mortgagee seeking to avoid as preferential the debtor's grant of a mortgage to the mortgagee, which the mortgagee failed to record until shortly before the debtor filed his bankruptcy petition. The debtor and the mortgagee cross-moved for summary judgment.
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Court
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