Terry v. Meredith (In re Meredith)

Pre 2005-Act: 
Pre 2005-Act
Ruling: 
Transfer of accounting practice from debtor to corporate successor was not recoverable from nominal president of successor who did not benefit from the transfer.
Procedural posture: 
Appellant bankruptcy trustee brought an adversary proceeding against appellee, the president of a corporate successor of debtor, claiming that he was entitled to recover the value of certain assets fraudulently transferred from the bankruptcy estate, pursuant to 11 U.S.C.S. § 550(a)(1). The bankruptcy court and U.S. District Court for the Eastern District of Virginia, at Richmond, rejected the trustee's claim. The trustee appealed.
Issue: 
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Consumer case opionion summary, case decided on June 03,2008, LexisNexis #0708-032