Wright v. Affiliated Home Centers, Inc. (In Re Wright)

LACK OF CONSIDERATION — FRAUDULENT TRANSFER

OPINION

LAURENCE E. HOWARD, Bankruptcy Judge.

This matter is before the Court on Defendant’s Motion for Summary Judgment. The facts as alleged by Plaintiffs are as follows:

In July, 1977, defendant, Affiliated Home Centers, Inc., received a judgment in the 57th District Court of the State of Michigan against F. L. Wright & Sons Construction, Inc., a Michigan corporation of which plaintiff/debtor Steven Wright was a director and shareholder. When defendant sought to collect on its judgment, plaintiffs, Steven and Anna Wright sought to delay the…