Magdovitz Family Trust v. KY USA Energy, Inc. (In Re KY USA Energy, Inc.)

MEMORANDUM-OPINION

JOAN A. LLOYD, Bankruptcy Judge.

This matter is before the Court on the Motion for Summary Judgment of the Plaintiff Magdovitz Family Trust (“the Trust”) and the Motion for Summary Judgment of Defendant Kentucky USA Energy, Inc. (“Debtor”). The Court considered the Motions, Supporting Memo-randa of Law and the Responses to each of the Motion for Summary Judgment. For the following reasons, the Court DENIES the Trust’s Motion for Summary Judgment and GRANTS the Debtor’s Motion for Summary Judgment.

FACTS AND PROCEDURAL BACKGROUND

On or about August 4, 2008, the Trust and Debtor…