- 11 U.S.C.
In re Williams
May
25
2012
Ruling
Prepetition transfer pursuant to strict foreclosure did not establish reasonably equivalent value and could be avoided.
Procedural posture
Chapter 13 debtors sought summary judgment on their claims in adversary complaints against defendant city that a "strict foreclosure" tax lien foreclosure proceeding under Wis. Stat. § 75.521 that did not involve competitively-bid sale procedures did not establish "reasonably equivalent value" within the meaning of 11 U.S.C.S. § 548(a)(1)(B) and that the resulting prepetition transfers of property were fraudulent transfers under § 548.
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Court
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