- 11 U.S.C.
Stalford v. Lion Fin. LLC (In re Lancaster Mortg. Bankers LLC)
Jun
04
2008
Ruling
Mortgages purchsed by broker within 90 days of petition date for resale to investors were not recoverable by trustee.
Procedural posture
Chapter 7 trustee filed an adversary proceeding against defendants, a mortgage broker and an LLC that serviced mortgages, asserting an ownership interest under 11 U.S.C.S. § 544 in certain mortgage loans transferred by a chapter 7 debtor. The mortgage broker filed a motion for summary judgment, and the trustee filed a cross-motion for summary judgment.
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Court
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