Robinson v. Rapid Funding, LLC (In Re Richards)

MEMORANDUM OPINION

DOUGLAS O. TICE, JR., Chief Judge.

Trial was held December 5, 2003, on trustee’s complaint to recover money or property, to determine the extent, validity, and priority of liens, and to compel turnover of assets of the estate. In his complaint trustee alleged:(1) that the assignment of and granting of a security interest in two of debtors’ accounts in favor of defendant Rapid Funding is an avoidable preference under Bankruptcy Code § 547;(2) that trustee is entitled to recover the accounts from Rapid Funding pursuant to § 550(a);(3) that Rapid Funding’s security interest in…