In re Carter (GASB 01-50187, Adv. No. 01-05039)

Court denied summary judgment to chapter 13 trustee seeking to avoid creation of a lien as a preference. Trustee failed to provide any information as to the debtor’s assets and liabilities, so the Court was unable to determine whether the fifth element of a preference action–creditor is better off than it would be in a hypothetical liquidation–was satisfied. At a minimum, the Court needs sufficient facts to determine whether the case would pay a 100% dividend.

Monday, January 28, 2002