- 11 U.S.C.
Littleton v. Hinton (In re Triple H Auto & Truck Sales Inc.)
Feb
02
2009
Ruling
Transfer from debtor auto dealer repaying advances with interest were contemporaneous exchanges for new value and not avoidable.
Procedural posture
Chapter 7 trustee, brought a claim seeking the avoidance, under 11 U.S.C.S. § 547, of transfers of funds by the debtor to the aunt of the debtor's principals, and a credit provider and transferee of funds from the debtor. The transferee moved for summary judgment, asserting that the transfers were made in exchange for contemporaneous new value, or were made in the ordinary course of business.
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Court
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