Geron v. Palladin Overseas Fund Ltd. (In Re AppliedTheory Corp.)

ORDER AND MEMORANDUM

BUCHWALD, District Judge.

This appeal arises out of a bankruptcy proceeding concerning the dispensation of debtor AppliedTheory Corporation’s assets. The appellant debtor claims the Bankruptcy Court erred in holding that the debtor’s pre-filing transfer of a security interest in its assets to the appellees (the “lenders”) in consideration of an antecedent debt in the form of a $30 million cash loan did not constitute a fraudulent conveyance. After reviewing the Bankruptcy Court’s conclusions of law, 1 we now affirm its decision to grant summary judgment in favor of the…