- 11 U.S.C.
Rushton v. Bank of Utah (In re C.W. Mining Co.)
Sep
30
2011
Ruling
Trustee not entitled to turnover of certificate of deposit in favor of debtor that was liquidated by bank.
Procedural posture
Plaintiff Chapter 7 trustee filed an adversary proceeding against defendant bank, seeking a determination that he was entitled under 11 U.S.C.S. §§ 549 and 550(a)(1) to recover $383,099 in postpetition payments that were made to the bank, or in the alternative, an order declaring that the bank's action in liquidating a certificate of deposit ("CD") was void under 11 U.S.C.S. § 362(a). The parties filed cross-motions for summary judgment.
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Court
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