Peters v. White County Farm Supply, Inc. (In Re Templeton)

MEMORANDUM

RALPH H. KELLEY, Bankruptcy Judge.

The trustee in bankruptcy filed a complaint against the defendant on June 11, 1979. The complaint alleged that the defendant received a payment that was a voidable preference under § 60 of the Bankruptcy Act (11 U.S.C. § 96). The gist of the complaint is that the defendant had a judg ment lien on the bankrupt’s interest in real estate owned by him and his wife as tenants by the entirety, the property was sold, and the defendant was paid in full — an amount greater than the value of its lien. A payment on a valid lien may be a voidable preference to…