St. Paul Travelers Insurance v. Century Asphalt Materials, LLC (In Re Contractor Technology, Ltd.)

PATRICK E. HIGGINBOTHAM, Circuit Judge:

Century Asphalt Materials, LLC, sold construction materials to Contractor Technology, Ltd., a general contractor for the State of Texas. Contractor Technology paid Century but before the checks cleared, the contractor filed for bankruptcy. The bankruptcy court held that Contractor Technology’s payments to Century were unauthorized post-petition transfers and ordered that Century return the payments to the Trustee. On summary judgment, the court, after “returning” the parties to the positions they were in when the checks were delivered, held that Century…