Carl Zeiss Meditec AG v. Anstine (In re U.S. Med. Inc.)

Pre 2005-Act: 
Pre 2005-Act
Ruling: 
Avoidance of transfers reversed where creditor had close, but not insider, relationship with debtor.
Procedural posture: 
Appellant, a creditor, sought review of a decision of the Bankruptcy Court for the District of Colorado, entered in favor of appellee, the chapter 7 trustee, after ruling that the creditor was a non-statutory insider to the debtor. The trustee was allowed to avoid certain transfers from the debtor to the creditor, which were found to be preferential pursuant to 11 U.S.C. §§ 547(b)(4)(B) and 550(a)(1).
Issue: 
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Commercial case opionion summary, case decided on June 12,2007, LexisNexis #1007-068