- 11 U.S.C.
Compton v. Mustang Engg Ltd. (In re MPF Holding US LLP)
Jun
18
2013
Ruling
Avoidance proceeding dismissed where novation agreement effected a valid assignment of the underlying contract.
Procedural posture
Plaintiff litigation trustee under a bankruptcy debtor's confirmed plan brought an adversary proceeding against defendant contractor seeking to avoid the debtor's prepetition contract payments to the contractor as preferential transfers, and the contractor asserted that the contract was assumed and assigned and the trustee lacked standing to pursue the preference claims. The contractor moved to dismiss the complaint for lack of jurisdiction.
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Court
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