Kaler v. Slominski (In re Keeley & Grabanski Land Partnership)

FEDERMAN, Chief Judge.

In this adversary proceeding, the Bankruptcy Court avoided a lease of farmland between Debtor Keeley and Grabanski Land Partnership, and Louis Slominski, as a fraudulent transfer. Pertinent to this appeal, the Court also held that Slominski was obligated under § 550(a) to pay the Trustee the fair market rent for the time he occupied the land prior to the avoidance, rather than the lower rent called for by the lease. And, the Court awarded Slominski an offset, as a good faith transferee pursuant to U U.S.C. § 550(e), for the costs of his improvements to the land, namely,…