Bankr. No.:
87-10354
Adv. No.:
88-1031
Chapter:
7
Date of Decision:
April 10, 1989
Issue:
Whether a bank received a preference when it agreed with the debtor prior to bankruptcy to receive the debtor's pickup and $2,000.00 in exchange for debt forgiveness on a note secured by the pickup and an unsecured note.
Ruling:
Preference was found for the value of the pickup over the amount due on the secured note - Section 547.
Full Bankruptcy Court Decision:
