Ivey v. First Citizens Bank & Trust Co. (In re Whitley)

Ruling: 
Trustee lacked standing to pursue claims belonging to creditors rather than the estate.
Procedural posture: 
Defendant bank moved to dismiss the adversary complaint brought by plaintiff chapter 7 trustee, pursuant to Fed. R. Bankr. P. 7012 and 7009 and Fed. R. Civ. P. 12(b)(1), 12(b)(6) and 9(b). The trustee brought claims for conspiracy, unfair and deceptive trade practices, N.C. Gen. Stat. § 75-1.1 et seq., and to avoid allegedly fraudulent transfers of funds from pursuant to 11 U.S.C.S. § 548, 550, or N.C. Gen. Stat. §§ 39-23.4 and 39-23.8.
Issue: 
ABI Membership is required to access the full summary of Ivey v. First Citizens Bank & Trust Co. (In re Whitley). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on February 07,2013, LexisNexis #0313-054