Redmond v. NCMIC Fin. Corp. (In re Brooke Corp.)

Ruling: 
Allegedly fraudulent transfer of operating expenses and loan payments to others could not be recovered from lender that allegedly benefitted.
Procedural posture: 
Chapter 7 trustee sought to avoid allegedly fraudulent transfers made by the debtors and to recover the value thereof from defendant, a finance corporation and lender (lender). As to one of the counts, the lender moved for summary judgment under Fed. R. Civ. P. 56, made applicable by Fed. R. Bankr. P. 7056, on the basis that it could not be liable within the meaning of 11 U.S.C.S. § 550(a)(1).
Issue: 
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Commercial case opionion summary, case decided on March 13,2012, LexisNexis #0413-023