- 11 U.S.C.
In re Hackney
Sep
28
2006
Ruling
Fees and expenses incurred by bank in prepetition fraudulent conveyance action against debtor were not entitled to prioriy administrative status.
Procedural posture
Under 11 U.S.C. § 507, a creditor bank sought an allowance of administrative expenses representing professional fees and litigation expenses it incurred in a prepetition state court fraudulent conveyance action against the debtor and numerous transferees of the debtor. After the debtor filed its chapter 7 petition, the trustee substituted as plaintiff and settled the lawsuit.
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Court
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