Ryen v. Marine Midland Bank, N.A. (In re Smith)

MEMORANDUM AND DECISION

EDWARD D. HAYES, Bankruptcy Judge.

This matter is before the Court on the Chapter 7 trustee’s motion for Court approval to compromise his adversary proceeding against Marine .Midland Bank, N.A. (“Marine”). The trustee’s action, commenced in December, 1988, sought to avoid Marine’s security interest in the debtor’s 1985 Ford Thunderbird pursuant to Bankruptcy Code § 544.1 11 U.S.C. § 544. The motion was heard on June 12, 1989, at which time decision was reserved.

The debtor opposes the trustee’s motion to compromise, arguing that it lacks sufficient clarity to give notice…