Gilbert v. Gem City Savings Ass'n (In Re Hale)

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding receipt of $1,079 payment on mortgage, where equity in real property collateral exceeded $13,000 on date of payment, was not a preference
• underlying rationale for the rule is that to the extent a secured creditor holding valuable collateral receives payment prior to bankruptcy, the amount of the secured claim is proportionately reduced (citation omitted)
• we hold as a general rule that payments to a fully secured creditor during the 90 day period preceding the filing of bankruptcy will not be considered a preferential transfer

Source: CourtListener parenthetical corpus (CC0).