Lancaster v. City Bank of Washington County (In Re Tuggle Pontiac-Buick-GMC, Inc.)

MEMORANDUM

CLIVE W. BARE, Bankruptcy Judge.

I

On September 10, 1982, some 47 dayg before the filing of its bankruptcy petition, the debtor, Tuggle Pontiac-Buick-GMC, Inc., formerly Tuggle Chevrolet-Olds, Inc., repaid to C & C Bank the sum of $20,000.00 on an unsecured note in the face amount of $75,000.00. 1 The plaintiff trustee seeks to recover this payment as a preference, 11 U.S.C.A. § 547(b) (1979). 2 0nly one of the five elements necessary to establish an avoidable preferential transfer is at issue: Whether the debtor was insolvent at the time of the transfer, § 547(b)(3).

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