Legal Opinion
Velde v. Border State Bank (In re Hovdebray Enterprises)
United States Bankruptcy Appellate Panel for the Eighth Circuit
Decided December 3, 2012No. BAP Nos. 12-6033, 12-6035PublishedCited by 1 opinion
1Opinion of the Court
FEDERMAN, Bankruptcy Judge.
This is a preference action under 11 U.S.C. § 547 by David G. Velde, the Chapter 7 Trustee, to recover a payoff payment to Border State Bank from the proceeds of the Debtor’s liquidation sale. The Bankruptcy Court1 denied the Bank’s motion for summary judgment, holding that the perfection of the Bank’s lien was within the perfection period under § 547(b) and that the “floating lien” defense in § 547(c)(5) did not provide a defense to a security interest that was actually perfected during the preference period. Following a trial, the Court entered judgment in the…
2Cases cited9 opinions
- In Re Kaypro, Debtor. Arrow Electronics, Inc. v. Howard Justus, Trustee, in Re Kaypro, Debtor. Arrow Electronics, Inc., Successor-In-Interest to Schweber Electronics, Inc. v. Howard Justus, TrusteeCourt of Appeals for the Ninth Circuit · 2000
- In Re U.S.A. Inns of Eureka Springs, Arkansas, Inc., Debtor. Claude R. Jones v. United Savings and Loan AssociationCourt of Appeals for the Eighth Circuit · 1993
- George P. Baker, Trustees of the Property of Penn Central Transportation Company v. National City Bank of ClevelandCourt of Appeals for the Sixth Circuit · 1975
- In Re: Murray F. Armstrong, Debtor. Harrah's Tunica Corporation, D/B/A Harrah's Casino Cruises-Tunica, Appellant/cross v. William S. Meeks, Trustee, Appellee/crossCourt of Appeals for the Eighth Circuit · 2002
- Southern Technical College, Inc. v. James W. Hood, Southern Technical College, Inc. v. Graham Properties PartnershipCourt of Appeals for the Eighth Circuit · 1996
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3Cited by1 opinion
- In re Hovdebray EnterprisesUnited States Bankruptcy Court, D. Minnesota · 2013