Silverman v. United Talmudic Acad. Torah Vyirah Inc. (In re Allou Distribs.)
Mar
18
2011
Ruling
Summary judgment granted in avoidance proceeding granted in favor of not-for-profit alleged transferee where it was not established that funds were received.
Procedural posture
Plaintiffs, a bankruptcy trustee and a financial corporation, filed an adversary proceeding against defendants, a not-for-profit corporation, the president of the not-for-profit corporation, and a trading company, seeking recovery of money that a corporate debtor transferred to the not-for-profit corporation before the debtor declared Chapter 7 bankruptcy. The not-for-profit corporation filed a motion for partial summary judgment.
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Court
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