Lightfoot v. MXEnergy Electric, Inc. (In Re MBS Management Services, Inc.)

MEMORANDUM OPINION

ELIZABETH W. MAGNER, Bankruptcy Judge.

Claude Lightfoot, as trustee for the MBS. Unsecured Creditor’s Trust, (“Trustee”), filed this adversary proceeding seeking to recover $156,345.93 from MXEnergy, Inc. (“MX”) in preferential or fraudulent transfers.

MX filed the instant Motion for Summary Judgment alleging that the payments cannot be recovered because they were “settlement payments made to a forward contract merchant under a forward contract.” 1

I. Standard for Summary Judgment

Summary Judgment is proper when no genuine issues of material fact exist, and the moving party is…