Madden v. Morelli (In re Energy Conversion Devices, Inc.)

OPINION REGARDING CROSS-MOTIONS FOR SUMMARY JUDGMENT

Thomas J. Tucker, United States Bankruptcy Judge

I. Introduction

This is a preference and fraudulent transfer case, in which the Plaintiff seeks to avoid two transfers totaling $1.3 million, and recover that amount from the Defendant, plus interest. The case raises several issues, including issues about the “insolvency” element of Plaintiffs preference claim under 11 U.S.C. § 547(b)(3); application of the “more than” element of Plaintiffs preference claim under 11 U.S.C. § 547(b)(5); and Defendant’s affirmative defenses to preference avoidance…