Falcon Creditor Trust v. First Ins. Funding Corp. (In re Falcon Prods. Inc.)

Pre 2005-Act: 
Pre 2005-Act
Ruling: 
On remand, bankruptcy court reaffirmed that payment on claim that was fully secured at time of transfer was not preferential.
Procedural posture: 
After the Eighth Circuit Bankruptcy Appellate Panel (BAP) reversed its grant of summary judgment in favor of defendant finance company and against plaintiff creditor trust, which had sought to avoid and recover transfers alleged to be preferential per 11 U.S.C.S. § 547, the court, as ordered, considered defenses asserted by the company and the actual effect of the transfers per the Supreme Court's ruling in Palmer Clay Products Co. v. Brown.
Issue: 
ABI Membership is required to access the full summary of Falcon Creditor Trust v. First Ins. Funding Corp. (In re Falcon Prods. Inc.). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on January 30,2009, LexisNexis #0309-102