Cate v. Nicely

MEMORANDUM

ROBERT L. TAYLOR, District Judge.

This action is an appeal from a decision of the Bankruptcy Judge that defendant’s security interest in assets of the bankrupt is null and void against the Trustee, that certain transfers of funds from bankrupt to defendant must be returned to the estate and that defendant’s claim against the bankrupt be subordinated to the payments of the claims of other creditors. The Bankruptcy Judge specifically found that transfers of property from the bankrupt to defendant on September 11, 1975, December 30, 1976, and August 19, 1977, were fraudulent transfers.

Ba…