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Legal Opinion

Marquis Products, Inc. v. Conquest Carpet Mills, Inc. (In Re Marquis Products, Inc.)

United States Bankruptcy Court, D. Maine

Decided February 10, 1993No. 16-20263PublishedCited by 10 opinions

1Opinion of the Court

MEMORANDUM OF DECISION

JAMES B. HAINES, Jr., Bankruptcy Judge.

Marquis Products, Inc. (“Marquis”), the debtor-in-possession, seeks to avoid a pre-petition mortgage given to Conquest Carpet Mills, Inc. (“Conquest”), as a fraudulent transfer under 11 U.S.C. § 548. 1 In view of the evidence adduced at trial, I conclude that the mortgage must be set aside. 2

Facts

1. Corporate History.

Marquis, a Georgia corporation which formerly manufactured and wholesaled carpet, is a wholly-owned subsidiary of NRF, Inc. (“NRF”). NRF, a closely-held Maine corporation, is also a Chapter 11 debtor. 3 NRF distributes…

2Cases cited25 opinions

  1. First National City Bank v. Banco Para El Comercio Exterior De CubaSupreme Court of the United States · 1983
  2. United Electrical, Radio and MacHine Workers of America v. 163 Pleasant Street Corporation, International Twist Drill (Holdings), Limited, United Electrical, Radio and MacHine Workers of America v. 163 Pleasant Street CorporationCourt of Appeals for the First Circuit · 1992
  3. Bangor Punta Operations, Inc. v. Bangor & Aroostook RailroadSupreme Court of the United States · 1974
  4. Mellon Bank, N.A. v. Metro Communications, Inc.Court of Appeals for the Third Circuit · 1991
  5. In the Matter of Xonics Photochemical, Inc., Debtor. Appeal of Mitsui and Company (u.s.a.), IncCourt of Appeals for the Seventh Circuit · 1988

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3Cited by10 opinions

  1. Smith v. AMERICAN FOUNDERS FINANCIAL, CORP.District Court, S.D. Texas · 2007
  2. Carmel v. River Bank America (In Re FBN Food Services, Inc.)United States Bankruptcy Court, N.D. Illinois · 1994
  3. Hooker Atlanta (7) Corp. v. Hocker (In Re Hooker Investment, Inc.)United States Bankruptcy Court, S.D. New York · 1993
  4. Himmelspach v. Railcar Specialties, Inc. (In Re R.C.S. Engineered Products Co.)United States Bankruptcy Court, E.D. Michigan · 1994
  5. Barber v. Production Credit Services (In Re KZK Livestock, Inc.)United States Bankruptcy Court, C.D. Illinois · 1998

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