Gilbert v. Gem City Savings Ass'n (In Re Hale)

DECISION

ELLIS W. KERR, Bankruptcy Judge.

FACTS

The trustee filed a complaint against the defendant-creditor, Gem City Savings Association, seeking to recover a payment of $1,079.64 made by the debtor to the creditor on the grounds that such payment constituted a preference under 11 U.S.C. § 547.

The parties filed the following stipulations of facts:

That the defendant, Gem City Savings Association, held a valid mortgage lien on the debtor’s real estate;

That within less than 90 days preceding the filing of debtor’s petition in bankruptcy, debtor paid to defendant $1,079.64;

That debtor was…