Marshack v. Wells Fargo Bank (In Re Walters)

MEMORANDUM OF DECISION

JOHN J. WILSON, Bankruptcy Judge.

I. INTRODUCTION

Chapter 7 Trustee Richard A. Marshack (“Trustee”) filed an action to avoid and recover preferential transfers totalling approximately $135,000.00 made by BILL L. WALTERS (“Debtor”) to WELLS FARGO BANK as Trustee under the Trust dated November 10, 1977, aka GETTY TRUST, aka NISA TRUST (“Defendants”). Trustee contends that each of these transfers constitute voidable preferential transfers made for the benefit of WALTERS INVESTMENTS (“WI”), an insider of the Debtor. The Trustee also seeks to avoid and recover as fraudulent…