The court ordered the bank, which had executed on a judgment pre-petition and was holding the debtor's livestock and other personal property, to release the execution and return the property to the debtors, with no need to pay adequate protection.
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The Chapter 11 trustee's motion for summary judgment on his complaint to avoid and recover alleged preferences and fraudulent transfers made to insiders of the debtor was denied for lack of evidentiary support on both sides of the motion.
The court denied summary judgment to the Chapter 11 trustee on his preference and fraudulent conveyance action against an alleged insider of the debtor because the evidence in the record did not establish the necessary statutory elements.
Summary judgment was denied on the issue of lien priority between certain secured creditors and a statutory lienholder because questions existed with regard to the nature and extent of the secured creditors' business arrangements with the debtor.
The relationship between the debtors and certain lien holders in debtors' inventory was unclear, so factual issues precluded summary judgment in a dispute with the holder of statutory liens in the same collateral over lien validity and priority.
Reported at 334 B.R. 257. Loan from acquaintance wasn't from an insider. It wasn't preferential or fraudulent as to the corporate debtor. It was fraudulent as to the individual debtor but not avoidable because transferee took for value & in good faith.
Reported at 334 B.R. 257. Loan from acquaintance wasn't from an insider. It wasn't preferential or fraudulent as to the corporate debtor. It was fraudulent as to the individual debtor but not avoidable because transferee took for value & in good faith.
The court granted summary judgment to the lender holding a lien on the debtor’s vehicle when the Chapter 13 trustee sought to avoid that lien. The issue was whether the lender’s security interest was properly perfected within 20 days of the debtor taking possession of the vehicle. The debtor purchased the leased vehicle on Dec. 30, 2003, the dealership received the certificate of title from the lease financing company on Jan. 8, 2004; the debtor signed the odometer certification sometime thereafter; and the new certificate of title was issued on Jan. 26, 2004. Under Nebraska motor vehicle titling laws, a debtor who physically possesses a vehicle without also obtaining a certificate of title has no ownership or other interest in the car. The earliest the dealership could have transferred the title was January 8. The lender’s security interest was perfected on January 26, which was within the 20-day window of § 547(c)(3)(B), so it was timely and not avoidable. Because the decision on this motion also resolved the allegations in the trustee’s complaint, summary judgment was entered in favor of the lender even though it had not been requested.
Bank wanted summary judgment saying that a new loan given days before filing was new value and thus not preferential. Court held it was preferential; Bank's new loan was given under circumstances that required debtors to pay off old loan owed to Bank.
Debtor sought to recover a pre-petition garnishment as a preference. The court could not enter judgment because it lacked personal jurisdiction over the defendant credit card issuer, and this district was not the appropriate venue for the matter.