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Olsen v. PG DesignBuild Inc. (In re Smeltzer Plumbing Sys. Inc.)

Ruling: 
Check written to supplier, on funds held in escrow by underwriter for payment to debtor, but never negotiated, was not a transfer and not avoidable.
Procedural posture: 
The chapter 7 trustee brought a motion for partial summary judgment on the issue that a portion of funds from a partially-completed subcontract held in escrow represented a preferential transfer from the debtor to a supplier. The trustee sought to avoid an unnegotiated check for the benefit of the estate.
Issue: 
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Commercial case opionion summary, case decided on December 12,2011, LexisNexis #0212-090