- 11 U.S.C.
Kotoshirodo v. Brennan (In re Lull)
Apr
26
2011
Ruling
Transferee, owner of LLC, of which debtor Ponzi scheme operator's corporation was majority member and co-owner, was an insider, entitling trustee to extended reach back.
Procedural posture
Chapter 7 trustee filed a complaint against defendant creditor to recover avoidable preferential transfers from the debtor to the creditor under 11 U.S.C.S. § 547(b). The parties filed cross-motions for summary judgment. At a previous hearing, the trustee's motion was granted as to all elements of avoidable preferences except for the question of whether the creditor was an "insider" as defined in 11 U.S.C.S. § 101(31).
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Court
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