Case No. 94-21918, Adv. Pro. No. 96-0196, 96-0197, 96-0199.United States Bankruptcy Court, W.D. Tennessee, Western Division.
September 9, 1997
MEMORANDUM OPINION AND ORDER RE DEFENDANT JAMES REEDY’S MOTION FOR SUMMARY JUDGMENT
GEORGE BOSWELL, Bankruptcy Judge
George W. Stevenson, Trustee for the debtor, William Dunlap Cannon, III (hereinafter “Cannon”) filed three separate adversary proceedings against the defendant James Reedy in 1996. All three of these proceedings seek to avoid certain transfers the debtor made from his client real estate escrow account to Glendale Federal Bank, Union Planters Bank (as successor in interest to Sunburst Bank) and Great Western Bank. The trustee alleges that these transfers qualify as fraudulent conveyances under 11 U.S.C. § 548. On April 23, 1997, the defendant, James Reedy,
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filed a motion for summary judgment alleging that there were no genuine issues of material fact and that such transfers were not fraudulent conveyances. The trustee filed a memorandum in opposition to this motion on May 16, 1997, contending that there were indeed genuine issues of material fact.
This Court conducted a hearing on this motion for summary judgment on August 12, 1997 pursuant to FED. R. BANKR. P. 9014. This is a core proceeding. 28 U.S.C. § 157(b)(2). The following shall serve as this Court’s findings of facts and conclusions of law pursuant to FED. R. BANKR. P. 7052.
Summary judgment under FED. R. CIV. P. 56(c), made applicable to bankruptcy contested matters and adversary proceedings by FED. R. BANKR. P. 7056, is appropriate when there is no genuine issue of material fact and the moving party is entitled to judgment as a matter of law. See Celotex Corp. V. Catrett, 477 U.S. 317, 322 (1986). Any inferences to be drawn from the underlying facts must be viewed in the light most favorable to the party opposing the motion. Matsushita Elec. Indus. Co. V. Zenith Radio Corp., 475 U.S. 574, 587 (1986).
After reviewing the facts of this case and the record as a whole, this Court concludes that summary judgment is not appropriate in this case. The Court finds that there exist genuine issues of material fact regarding the nature of the transfers made by Cannon to the defendants.
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ORDER
IT IS THEREFORE ORDERED that James Reedy’s motion for summary judgment is DENIED.
IT IS SO ORDERED.
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