Angell v. Meherrin Agric. & Chem. Co. (In re Tanglewood Farms Inc.)

Ruling: 
Chapter 7 trustee could not avoid preconversion transfers made by debtor while a chapter 11 debtor in possession.
Procedural posture: 
Chapter 7 trustee filed an adversary proceeding against defendant creditor, seeking a determination that he was allowed under 11 U.S.C.S. §§ 544, 547-551, and N.C. Gen. Stat. § 39- 23.1 et seq. to avoid transfers a corporation ("debtor") made to the creditor while the debtor was in chapter 11 bankruptcy. The creditor filed a motion to dismiss.
Issue: 
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Commercial case opionion summary, case decided on May 01,2013, LexisNexis #0513-125