Legal Opinion
Creditors' Committee v. Spada (In re Realty)
Court of Appeals for the Third Circuit
Decided May 22, 1990No. 89-5711PublishedCited by 2 opinions
1Opinion of the Court
OPINION OF THE COURT
MANSMANN, Circuit Judge.
This appeal presents a challenge by creditors to two allegedly preferential pre-petition transfers involving real property of the debtor. In one, the bankruptcy court found that new value was contemporaneously exchanged consistent with 11 U.S.C. § 547(c)(1) of the Bankruptcy Code when the debtor consolidated three loans in exchange for a second mortgage on real property. We find that the bankruptcy court’s findings were, in part, clearly erroneous to the extent that the transfer was only partially for new value and that it was legal error for the…
2Cases cited15 opinions
- United States v. American Trucking AssociationsSupreme Court of the United States · 1940
- Katchen v. LandySupreme Court of the United States · 1966
- Universal Minerals, Inc. v. C. A. Hughes & Co.Court of Appeals for the Third Circuit · 1981
- Perry v. Commerce Loan Co.Supreme Court of the United States · 1966
- In re Abbotts Dairies of Pennsylvania, Inc.Court of Appeals for the Third Circuit · 1986
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3Cited by2 opinions
- In Re SpadaCourt of Appeals for the First Circuit · 1990
- In re Gas-Mart USA, Inc.United States Bankruptcy Court, W.D. Missouri · 2019