John Hatton, Inc. v. Hatton (In Re John Hatton, Inc.)

MEMORANDUM OPINION

JOSEPH L. COSETTI, Bankruptcy Judge.

The matter presently before this court is the debtor/plaintiff’s Motion for Summary Judgment on the issue of fraudulent conveyance of an insurance policy. Also before us is the question of the value of the insurance policy.

The Motion for Summary Judgment as to the fraudulent conveyance is granted. The court finds that the value of the insurance policy is $100,506.00.

I. FACTS

In August of 1982, John Hatton and Robert Maruca entered into an oral buy-out agreement under which the debtor, John Hatton, Inc., would purchase life insurance…