- 11 U.S.C.
Compton v. InOcean AS (In re MPF Holding US LLC)
Jun
21
2013
Ruling
Trustee could not pursue preference proceeding for payments pursuant to contract that was assumed and assigned under debtor's confirmed plan.
Procedural posture
Chapter 11 litigation trustee filed an adversary proceeding to recover alleged preferential payments made to defendant creditor. The creditor moved to dismiss, alleging that the debtor assumed and assigned its contract with the creditor pursuant to 11 U.S.C.S. § 365 and thus, the trustee was barred as a matter of law from pursuing a preference action.
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Court
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