§ 547(b)

In re Value Music Concepts

Plaintiff, in his capacity as the creditor representative appointed pursuant to 11 U.S.C. § 1123(b)(3) under debtors'confirmed chapter 11 plan, sued defendant creditors, seeking to recover, pursuant to 11 U.S.C. § 547(b), alleged preferential transfers for the benefit of unsecured creditors. Defendants moved for summary judgment.
Creditor representative could pursue preference avoidance actions on debts assumed under a settlement agreement between debtors and creditors two weeks before chapter 11 filings.
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