Legal Opinion
Paragon Development Enterprises, Inc. v. Redding Bank of Commerce (In Re Paragon Development Enterprises, Inc.)
United States Bankruptcy Court, E.D. California
Decided September 30, 1996No. 19-20558PublishedCited by 5 opinions
1Opinion of the Court
MEMORANDUM OF DECISION
DAVID E. RUSSELL, Chief Judge.
Chapter 7 Trustee James C. Larson (“Plaintiff’) filed a complaint against Red-ding Bank of Commerce (“Redding”) alleging a preferential set-off under 11 U.S.C. § 553(b). Thereafter, Redding filed a motion for summary judgment. After a hearing, the court took the matter under submission. For the reasons set forth below, the court will grant the motion for summary judgment in favor of Redding.
I. FACTUAL BACKGROUND
In January of 1991, Redding loaned Paragon Development Enterprises, Inc. (“Debt- or”) $500,000.00. The loan was evidenced by a…
2Cases cited16 opinions
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- Barnhill v. JohnsonSupreme Court of the United States · 1992
- Citizens Bank of Md. v. StrumpfSupreme Court of the United States · 1995
- United States of America on Behalf of Its Agency Internal Revenue Service v. William H. Norton, Carrie W. Norton, F/k/a Carrie A. WoodwardCourt of Appeals for the Third Circuit · 1983
- In Re Cascade Roads, Inc., Debtor. United States of America v. Peter H. Arkison, TrusteeCourt of Appeals for the Ninth Circuit · 1994
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- Mottaz v. St. Louis Post-Dispatch Pulitzer Publishing Co. (In Re Murphy)United States Bankruptcy Court, S.D. Illinois · 1997
- Dunn v. First National Bank of Decatur (In re Jenkins Enterprises, Inc.)United States Bankruptcy Court, C.D. Illinois · 2003