§ 548(a)

Reaves v. Comerica Bank-California (In re GTI Capital Holdings)

Defendant, a secured creditor of chapter 7 debtor, filed a motion for summary judgment in an action brought by plaintiff chapter 7 trustee, alleging that the creditor's late filing of UCC-1 Financing Statements constituted a preference or a fraudulent conveyance that should be avoided and recovered for the benefit of the estate pursuant to 11 U.S.C. §§ 544(b) and 548. The trustee filed a cross motion for summary judgment.
Ruling: 
Collateralization of antecedent debt conferred new reasonably equivalent value upon debtor for transfer of interest in property.
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In re Edmondson

The debtors moved for confirmation of their chapter 13 plan. Creditor filed an objection.
Ruling: 
Mortgage payment on rental property which debtor planned to surrender could not be included in calculation of projected disposable income.
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Sullivan v. Schultz (In re Schultz)

Plaintiff chapter 7 trustee brought a complaint seeking to avoid the transfer of debtor's inheritance from her grandmother into a special needs trust as a fraudulent transfer pursuant to 11 U.S.C. § 548, and to recover the transfer from the special needs trustee pursuant to 11 U.S.C. § 550(a). The issue was whether debtor received reasonable equivalent value, for purposes of 11 U.S.C. § 548(a)(1)(B).
Ruling: 
Transfer of disabled debtor's inheritance into special needs trust was not avoidable.
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Applewhite v. Akin (In re Akin)

Plaintiff trustee filed a motion for partial summary judgment on his adversary complaint to avoid, pursuant to 11 U.S.C. § 548(a)(1), the transfers by defendant debtors of the proceeds from certificates of deposit (CDs) into bank accounts opened in the names of defendant children.
Ruling: 
Debtor's transfer of CD proceeds into childrens'bank accounts within one month prior to filing was avoidable.
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Gredd v. Bear Stearns Sec. Corp. (In re Manhattan Inv. Fund Ltd.)

Chapter 11 trustee and defendant brokerage firm filed cross-motions for summary judgment in trustee's action, which sought to avoid margin payments deposited in debtor's account at the firm pursuant to 11 U.S.C. § 548(a)(1)(A).
Ruling: 
Transfers by debtor to brokerage firm with intent to hinder, delay or defraud creditors were avoidable.
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In re Nockerts

The U.S. Trustee filed a motion to dismiss chapter 7 debtors'case based on a presumption of abuse under 11 U.S.C. § 707(b)(2) or as an abuse under section 707(b)(3).
Ruling: 
Mortgage payments on property to be surrendered were "scheduled as contractually due" and could be deducted from debtors'current monthly income.
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Brady v. Bestworth-Rommel Inc. (In re Johnson)

Plaintiff chapter 7 trustee filed an adversary proceeding against defendant creditor seeking to avoid an alleged transfer from the debtor pursuant to 11 U.S.C. § 548(a)(2) and to recover the amount of the transfer pursuant to 11 U.S.C. § 550(a) or (b).
Ruling: 
Creditor who released lien on land owned by corporation of which debtor was a shareholder in exchange for transfer by debtor was a subsequent transferee and transfer was not avoidable.
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Colonial Bank v. Freeman (In re Pac. Forest Prods. Corp.)

Appellee, a trustee in bankruptcy, brought an adversary proceeding against appellant banks in the bankruptcy court for the avoidance and recovery of fraudulent transfers under 11 U.S.C. §§ 544 and 548. The bankruptcy court granted the trustee's motion for a partial summary judgment, and the banks brought motions for leave to appeal the interlocutory order pursuant to 28 U.S.C. § 158(a).
Ruling: 
Court granted motion for interlocutory appeal to determine if a Ponzi scheme was a check kiting scheme and whether such scheme established debtor intent to defraud.
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Fisher v. Moon (In re Fisher)

Defendant county treasurer foreclosed on debtor's property for non- payment of property taxes. The total consideration received was the outstanding tax obligation of $1,843.75. Debtor and the chapter 13 trustee filed an avoidance action under 11 U.S.C. § 548(a)(1)(B), claiming the value of the property was approximately $68,000, and thus the transfer by the treasurer constituted a fraudulent conveyance. The parties moved for summary judgment.
Ruling: 
Duly noticed and conducted foreclosure sale for less than reasonable value was not a fraudulent transfer.
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Drew v. MAK Inv. LLC (In re Drew)

Plaintiff, the chapter 7 trustee, brought suit seeking to avoid the prepetition transfer of the debtor's residence to a third party purchaser under 11 U.S.C. § 548, and to collect damages pursuant to state law and the common law, treble damages plus fees and costs pursuant to the New Hampshire Consumer Protection Act ("NHCPA"), N.H. Rev. Stat. Ann. § 358-A. The purchaser argued it had paid "reasonably equivalent value"for the property.
Ruling: 
Purchase of title for less than reasonably equivalent value was avoidable.
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