Legal Opinion
Responsible Person of Musicland Holding Corp. v. Best Buy Co. (In re Musicland Holding Corp.)
United States Bankruptcy Court, S.D. New York
Decided December 30, 2011No. Bankruptcy No. 06-10064 (SMB); Adversary No. 08-01023PublishedCited by 6 opinions
1Opinion of the Court
MEMORANDUM DECISION AND ORDER DENYING MOTION FOR PARTIAL SUMMARY JUDGMENT
STUART M. BERNSTEIN, Bankruptcy Judge.
The debtor The Musicland Group (“TMG”) paid the defendant Best Buy Co., Inc. (“Best Buy”) $35 million (the “Transfer”) prior to the petition date allegedly on account of an antecedent debt, and is now seeking to avoid and recover the Transfer under Minnesota’s version of the Uniform Fraudulent Transfer Act (“UFTA”). Best Buy contends that any recovery must be reduced by subsequent new value provided by its affiliate, and has moved for partial summary judgment on this issue. Best…
2Cases cited19 opinions
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- Matsushita Electric Industrial Co., Ltd. v. Zenith Radio CorporationSupreme Court of the United States · 1986
- Rodriguez v. City of New YorkCourt of Appeals for the Second Circuit · 1995
- Klein v. TabatchnickCourt of Appeals for the Second Circuit · 1979
- State v. MosengSupreme Court of Minnesota · 1959
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3Cited by6 opinions
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