Campbell v. Hanover Ins. (In re Campbell)
Nov
03
2010
Ruling
Transfer of lender's funds into certificate of deposit was a contemporaneous exchange for new value and not avoidable.
Procedural posture
Chapter 7 trustee filed this adversary proceeding against defendant surety, claiming that it was an indirect beneficiary of the transfer of a lender's funds into a certificate of deposit and the transfer of the funds was avoidable as a preferential transfer under 11 U.S.C.S. § 547. The matter came before the court for hearing on the surety's Fed. R. Civ. P. 56 motion for summary judgment.
ABI Membership is required to access the full summary of Campbell v. Hanover Ins. (In re Campbell) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: