- 11 U.S.C.
Wells v. TCF Natl Bank (In re Hi Tech Fleet Serv.)
Mar
09
2006
Ruling
Court dismissed the trustee's complaint alleging avoidable transfers and demanding turnover since no provision in either the Code or case law allowed a chapter 7 trustee to bring an action challenging an asset sale consummated pursuant to court order in a chapter 11 proceeding.
Procedural posture
The matter came before the court on plaintiff chapter 7 trustee's motion for summary judgment. The trustee requested summary judgment on a two-count complaint seeking: (1) a determination of the amount, validity, and extent of defendant creditor's claim, and (2) avoidance of an allegedly unauthorized postpetition transfer of funds to the creditor.
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Court
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