Floyd v. American Block Roland Niles International, Inc. (In re Cooper Manufacturing Corp.)

MEMORANDUM OPINION

JEFF BOHM, Bankruptcy Judge.

I. INTRODUCTION

The matters before the Court are cross-motions for Partial Summary Judgment brought by Ben B. Floyd, the Chapter 7 Trustee (the Trustee), as the plaintiff, and certain creditors, as the defendants. The parties request the Court to adjudicate whether certain transfers of letters of credit proceeds (the LOC Transfers) made by Cooper Manufacturing Corporation (Cooper) to its four creditors constitute avoidable preferences under 11 U.S.C. § 547(b).1

Cooper is the Debtor in this Chapter 7 bankruptcy case filed on May 7, 2003. On May 6,…