Moyer v. Rosich (In re Rosich)

OPINION AFTER TRIAL

Scott W. Dales, United States Bankruptcy Judge

I. INTRODUCTION

By the time of trial in this preference dispute, the only issue for decision was whether the $6,000.00 payment by chapter 7 debtor Carol K. Rosich to her son, Christopher Rosich, representing proceeds of a vehicle in which he held a perfected security interest, qualifies as a contemporaneous exchange for new value within the meaning of 11 U.S.C. § 547(c)(1). For the following reasons, the court finds that the release of Mr. Rosich’s security interest to facilitate his mother’s sale of the vehicle, and her payment…