§ 548(a)

Feldman v. Chase Home Finance (In re Image Masters Inc.)

Chapter 7 trustee brought claims to avoid over $ 23 million of transfers made to defendants, residential mortgage lenders. The transfers were underlying mortgage payments made by the debtors, the facilitators of a multi-million dollar Ponzi scheme. The lenders moved to dismiss all counts of the complaint for failure to join parties under Fed. R. Civ. P. 12(b)(7) and 19, and the avoidance claims under Fed. R. Civ. P. 12(b)(6).
Ruling: 
Transfers by debtor that operated Ponzi scheme to mortgage lender that was ignorant of scheme were not avoidable on grounds of actual or constructive fraud.
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Commercial case opionion summary, case decided on December 17,2009, LexisNexis #0210-062

Farinash v. Bensusan (In re Prebal Jeep Inc.)

This adversary proceeding was initiated by plaintiff chapter 7 Trustee to recover allegedly fraudulent and preferential transfers made by debtor auto dealership to defendant investors. The proceeding was before the court on cross-motions for partial summary judgment.
Ruling: 
Transfer that amounted to exchange of reasonably equivalent value was not avoidable.
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Commercial case opionion summary, case decided on November 30,2009, LexisNexis #0110-089

Mitrano v. Melka

Appellant debtor filed a notice of appeal from an order entered by the Bankruptcy Court for the Eastern District of Virginia dismissing an adversary proceeding and denying the debtor's first motion for reconsideration. The debtor also appealed the bankruptcy court's denial of his second motion for reconsideration and his motion to amend the complaint or transfer proceedings.
Ruling: 
Bankruptcy court properly dismissed adversary proceeding and denied motions for reconsideration.
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Consumer case opionion summary, case decided on November 05,2009, LexisNexis #1209-019

Harden v. Nemchak (In re Wingen)

Debtor filed a voluntary petition in bankruptcy under chapter 7. Plaintiff, Trustee of the debtor's bankruptcy estate, filed an adversary proceeding under 11 U.S.C.S. § 548 seeking to avoid and recover the debtor's transfer of a one-half interest in a beach house to defendant, his wife. The Trustee filed a motion for summary judgment on this adversary proceeding.
Ruling: 
Transfer of beach home to debtor's wife for less than 60 percent of value was avoidable.
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Consumer case opionion summary, case decided on October 16,2009, LexisNexis #1209-053

Schaefer v. First National Bank

Plaintiff chapter 11 debtors filed an adversary proceeding against defendants, a bank and a committee of unsecured creditors, seeking a judgment determining the validity and priority of liens against real property they owned. The committee filed a crossclaim against the bank, seeking to avoid a mortgage under 11 U.S.C.S. § 548(a)(1)(B), which the debtors gave the bank.
Ruling: 
Constructively fraudulent mortgage avoided.
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Consumer case opionion summary, case decided on October 15,2009, LexisNexis #1109-055

Pereira v. Grecolas Ltd. (In re Saba Enters.)

Debtor holding company filed a petition under chapter 7 of the Bankruptcy Code, and a trustee was appointed to administer the debtor's bankruptcy estate. The trustee filed an adversary proceeding against defendants, an individual and various businesses, claiming, inter alia, that the individual was responsible for the fraudulent transfer of assets that belonged to the debtor to other businesses he owned. Defendants filed a motion to dismiss.
Ruling: 
Fraudulent transfer proceeding dismissed as to businesses trustee failed to show were liable.
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Commercial case opionion summary, case decided on September 18,2009, LexisNexis #1009-051

Hutson v. United States Dept of the Army (In re Natural Gas Distribs. Inc.)

Plaintiff chapter 11 trustee filed an adversary proceeding against defendant United States of America, Department of the Army, seeking a determination that contracts which a chapter 11 debtor, a natural gas distributor, concluded with the Army were fraudulent transfers and preferential transfers that could be avoided under 11 U.S.C.S. §§ 548(a)(1)(A) and (B), 547(b), and 550(a)(1). The parties filed cross-motions for summary judgment.
Ruling: 
Transfers to Army by debtor natural gas distributor, except for spot purchases, were made pursuant to "swap agreements" and not subject to avoidance.
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Commercial case opionion summary, case decided on August 25,2009, LexisNexis #1209-130

Rupp v. Ayres (In re Fabbro)

A debtor filed a petition under chapter 7. Plaintiff chapter 7 trustee filed causes of action against defendants, a real estate agent, his associate, a real estate company, a transferee, and other defendants, for common law fraud, fraudulent transfer under 11 U.S.C.S. § 548, fraudulent transfer under Utah Code Ann. § 25-6-6 of the Utah Uniform Fraudulent Transfer Act (UFTA), negligence, civil conspiracy, breach of contract, and punitive damages.
Ruling: 
Transfers to real estate agents who misrepresented nature of services to debtor were fraudulent.
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Consumer case opionion summary, case decided on July 29,2009, LexisNexis #0909-052

Floyd v. Option Mortg. Corp. (In re Supplement Spot LLC)

Plaintiff Chapter 11 trustee for the debtor brought an adversary proceeding to avoid transfers by the debtor to defendant mortgage corporation totaling $ 90,668.08 under 11 U.S.C.S. § 548(a)(1)(B) and Tex. Bus. & Com. Code Ann. § 24.006(a).
Ruling: 
Transfers to mortgage corporation within four years of petition date avoided as fraudulent.
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Commercial case opionion summary, case decided on July 07,2009, LexisNexis #0809-127

Campbell v. Dudley (In re Sobota)

The matter came before the court for trial on chapter 7 trustee's complaint to avoid certain transfers by debtor pursuant to 11 U.S.C.S. § 548, and pursuant to provisions of the Ohio Uniform Fraudulent Transfer Act (UFTA) by virtue of the trustee's status pursuant to 11 U.S.C.S. § 544.
Ruling: 
Transfers could not be avoided absent facts sufficient to establish fraud.
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Consumer case opionion summary, case decided on June 02,2009, LexisNexis #0709-123

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