Genuine Issues of Material Fact Remained Concerning Whether the Transfer of the Security Interest Is Excepted from Avoidance Under §547(c)(1).
Idaho, September 18, 2017 – Debtor purchased a vehicle on a loan. The loan was secured by a security interest in the vehicle. Subsequently, the Debtors decided to refinance the original purchase-money loan on the vehicle using the proceeds of a new loan they obtained from Defendant America First. The Defendant had a security interest in the vehicle. After the Debtor filed for bankruptcy, the Trustee brought an adversary proceeding to avoid the Defendant’s first’s lien on the vehicle as a preference under § 547(b), and to recover the vehicle, or its value, under § 550(a).The Court held that the Debtors’ transfer of the security interest to the new lienholder was on account of an anteced
Genuine Issue of Facts Precluded Judgment in Favor of Trustee
McCor v. Ally Fin., Inc. (In re USA United Fleet, Inc.), Nos. 1-11-45867-ess, 1-13-01219-ess, 2016…Read More
Bankruptcy Court Negates Madoff Trustee’s $220m Clawback Action For Lack of Investor’s Actual Knowledge of Fraud
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