Lim v. New Century Mortgage Corp. (In Re Ammar)

Opinion Regarding Cross Motions for Summary Judgment

STEVEN RHODES, Chief Bankruptcy Judge.

This matter is before the Court on a motion for summary judgment filed by trustee, K. Jin Lim. Lim seeks to avoid as a preferential transfer the security interest of New Century Mortgage Corp. in the debtors’ property. New Century filed a cross motion for summary judgment.

The Court heard oral argument on August 14, 2006. No decision was issued at that time. On August 17, 2006, an order was issued holding this case in abeyance pending a decision from the Michigan Supreme Court on a question certified to…