Appalachian Oil Co. v. Kentucky Lottery Corp. (In re Appalachian Oil Co.)
Mar
23
2012
Ruling
Payments made to lottery agency from sales proceeds held in trust for the agency were not avoidable.
Procedural posture
Plaintiff oil company ("debtor") declared chapter 11 bankruptcy and operated its business as a debtor in possession. The debtor filed an adversary proceeding against defendant Kentucky Lottery Corporation ("KLC"), seeking a determination that it was entitled to recover payments it made to the KLC under 11 U.S.C. §§ 547(b) and 550(a). The parties filed cross-motions for summary judgment.
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Court
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