In Re Northern Merchandise, Inc., Debtor, Frontier Bank v. Ronald G. Brown, Chapter 7 Trustee

WARDLAW, Circuit Judge:

Frontier Bank (“Frontier”) appeals a decision of the Bankruptcy Appellate Panel (“BAP”) affirming in part the bankruptcy court’s summary judgment in favor of Ronald G. Brown, Chapter 7 Trustee (“Trustee”), in the Trustee’s action alleging that Frontier received a fraudulent transfer from Chapter 7 Debtor Northern Merchandise, Inc. (“Debtor”). Specifically, Frontier challenges the BAP’s ruling that Debtor did not receive reasonably equivalent value under 11 U.S.C. § 548(a)(1)(B) in exchange for a security interest it granted to Frontier and, thus, Frontier was not…