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§ 547(c)(3)

Gugino v. Credit Acceptance Corp. (In re Conklin)

Jun
06
2014
Ruling
Motor vehicle lien was not avoidable pursuant to the enabling loan exception.
Issue(s)
Was motor vehicle lien avoidable or protected by the enabling loan exception to avoidance?

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Consumer opinion summary, case decided on June 06, 2014 , LexisNexis #0714-126
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Brock v. Branch Banking & Trust Co. (In re Johnson)

Jul
02
2010
Ruling
Enabling loan exception did not protect bank from avoidance of security interest not perfected within 20 days of debtor's receipt of collateral.
Procedural posture

Defendant bank appealed an order of the U.S. Bankruptcy Appellate Panel (BAP) for the Sixth Circuit ruling in favor of plaintiff trustee, holding that because perfection of the bank's security interest did not occur within 20 days of the debtor's receiving a new pick up truck secured by the bank, the enabling loan exception of 11 U.S.C.S. § 547(c)(3) was not available to protect the bank's interest from avoidance as a preferential transfer.

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Court :
Judge or Jurisdiction information not available
Consumer opinion summary, case decided on July 02, 2010 , LexisNexis #0910-104
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Buckley v. Merrill Lynch & Co. (In re DVI Inc.)

Sep
16
2008
Ruling
Dismissal of preferential and fraudulent transfer proceedings denied.
Procedural posture

Plaintiff chapter 11 trustee sued defendant loan provider and special purpose subsidiaries, alleging breach of fiduciary duties and seeking to avoid and recover alleged preferential and fraudulent transfers. The provider and subsidiaries moved to dismiss the claims.

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Commercial opinion summary, case decided on September 16, 2008 , LexisNexis #1008-064
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In re Kovarik

Aug
20
2008
Ruling
Vehicle lien granted within 90 days of petition date and more than 30 days after debtors took possession could be avoided.
Procedural posture

Hearing was held on the chapter 7 trustee's motion to avoid a creditor's lien and the creditor's objection thereto.

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Consumer opinion summary, case decided on August 20, 2008 , LexisNexis #1008-083
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Brock v. Branch Banking & Trust Co. (In re Johnson)

Dec
21
2007
Ruling
Enabling loan exception to avoidance not available where security interest in truck was not perfected within 20 days of purchase.
Procedural posture

In this pre-Bankruptcy Abuse Prevention and Consumer Protection Act preference action, plaintiff trustee appealed the Bankruptcy Court for the Eastern District of Kentucky's ruling that the lien on debtor's motor vehicle was protected from avoidance by the enabling loan exception, which excepted from avoidance certain security interests perfected within 20 days of debtor's possession of the collateral. Defendant was the lender.

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Court :
Judge or Jurisdiction information not available
Consumer opinion summary, case decided on December 21, 2007 , LexisNexis #0108-099
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Ransier v. American Suzuki Fin. (In re Eccles-Walker)

Mar
28
2007
Ruling
Exception to avoidance of motor vehicle lien did not apply where security interest was not perfected within 20 days of debtor taking possession.
Procedural posture

Plaintiff bankruptcy trustee brought an adversary proceeding against defendant creditor which financed the bankruptcy debtor's purchase of a vehicle shortly before the debtor filed his bankruptcy petition. The trustee asserted that the creditor's lien was avoidable as a preferential transfer, but the creditor argued that the enabling loan exception under 11 U.S.C. § 547(c)(3) was applicable, and the parties cross-moved for summary judgment.

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opinion summary, case decided on March 28, 2007 , LexisNexis #0507-026
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Johnson v. AmeriCredit Fin. Servs. (In re Booth)

Jul
24
2006
Ruling
Trustee could not avoid lien since lienholder could invoke affirmative defense under section 547(c)(3).
Procedural posture

After the debtors filed for chapter 7 bankruptcy protection, plaintiff trustee brought an adversary proceeding against defendant lienholder, alleging that the lien on a vehicle constituted a preference in violation of 11 U.S.C. § 547 and was avoidable under 11 U.S.C. § 547(b). The parties cross-moved for summary judgment.

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opinion summary, case decided on July 24, 2006 , LexisNexis #0806-095
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