Jimmy Swaggart Ministries v. Hayes

EDITH H. JONES, Circuit Judge:

This is an adversary proceeding brought by William G. Hays, Jr. (“Hays”), trustee of the debtors’ bankruptcy estate, to recover $2,472,500 paid by the debtors to Jimmy Swaggart Ministries (“JSM”) from July 1990 to July 1992. Hays argues — and JSM contests — that these transfers can be avoided as actual and/or constructive fraudulent conveyances under 11 U.S.C. § 548(a). JSM additionally claims the “good faith” defense of 11 U.S.C. § 548(c). For the reasons that follow, this court finds that JSM met the requirements of § 548(c) and the criteria for a comparable…