Moltech Power Systems, Inc. v. Truelove & MacLean, Inc. (In Re Moltech Power Systems, Inc.)

ORDER GRANTING PLAINTIFF’S MOTION FOR SUMMARY JUDGMENT AND DENYING DEFENDANT’S MOTION FOR SUMMARY JUDGMENT

LEWIS M. KILLIAN, JR., Bankruptcy Judge.

THIS MATTER is before the Court on cross-motions for summary judgment (“Motions”) filed by both parties» to this adversary proceeding. On May 16, 2003, the Plaintiff, Moltech Power Systems, Inc. (“MPS”), filed its Complaint to recover preference payments in the amount of $280,631.00 from the Defendant, Truelove & Maclean, Inc. (“T & M”), under 11 U.S.C. § 547, to which T & M raised the affirmative defense of new value found in § 547(c)(4). The Court…