Harold C. Abramson, Trustee v. Lakewood Bank and Trust Company

This is an appeal by Harold C. Abramson, acting as trustee in bankruptcy under Chapter XI of the old Bankruptcy Act,1 *548former 11 U.S.C. § 1, et seq., of the district court’s order refusing to set aside an alleged transfer of real property within one year of the filing of debtor’s bankruptcy petition. The district court granted summary judgment for the defendant-appellee, Lakewood Bank and Trust Company (“Lakewood Bank”), holding that the nonjudicial foreclosure sale of the debtor’s land did not constitute a “transfer” within the meaning of § 67(d) of the Bankruptcy Act. We reverse.

The facts…