Creditors' Committee v. Spada (In Re Spada)

OPINION AND ORDER

THOMAS C. GIBBONS, Bankruptcy Judge:

Creditors’ Committee (hereinafter “Plaintiff”) commenced this proceeding to set aside alleged preferential and fraudulent transfers and to recover property or its value. The count against defendant, Joseph V. Spada, Sr. (hereinafter “Spada”) was settled by Stipulation and, consequently, this Court will discuss Spada’s involvement only to the extent that it is pertinent to the facts relating to the other defendants in this case. Additionally, the only allegation of fraud made concerned the count against Spada. Consequently, this opinion will…