Skip to main content

Hutson v. Smithfield Packing Co. (In re Natl Gas Distribs. LLC)

Hutson v. Smithfield Packing Co. (In re Natl Gas Distribs. LLC)

Ruling
Forward agreement for sale of natural gas by debtor was not a swap agreement so that transfers thereunder were avoidable.
Procedural posture

Plaintiff bankruptcy trustee brought an adversary proceeding against defendant purchaser of natural gas from a bankruptcy debtor, seeking to avoid transfers of gas to the purchaser as fraudulent under 11 U.S.C. § 548(a)(1). The purchaser moved to dismiss the complaint or, in the alternative, for summary judgment, because the transfers were made in connection with a swap agreement and thus not subject to avoidance under 11 U.S.C. § 546(g).

ABI Membership is required to access the full summary of Hutson v. Smithfield Packing Co. (In re Natl Gas Distribs. LLC) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member

opinion summary, case decided on May 24, 2007 , LexisNexis #0707-001