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Anstine v. Carl Zeiss Meditec AG (U.S. Medical Inc.)

Appellant trustee sued appellee creditor pursuant to 11 U.S.C.S. § 547(b)(4)(B), seeking to avoid certain transfers. The bankruptcy court held that the creditor was a nonstatutory insider under 11 U.S.C.S. § 101(31) and permitted the trustee to avoid the transfers. The United States Bankruptcy Appellate Panel reversed the bankruptcy court. The trustee appealed the judgment.
Bankruptcy appellate panel properly reversed finding that creditor was an insider where creditor operated at arm's length on transfer in question.
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Commercial case opionion summary, case decided on July 15,2008, LexisNexis #0808-066