In Re Bullion Reserve of North America, a California Corporation, Curtis B. Danning, Chapter 7 Trustee v. Theodore P. Bozek

How courts have described this case

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

• noting that the Bankruptcy Code does not define the term “property of the debtor,” and that “we define the term broadly”
• applying the contemporaneous exchange exception only after concluding that the trustee had satisfied §§ 547(b)(5)
• asserting without further discussion that “[t]he record indicates that BRNA was conducting . . . a [Ponzi] scheme”
• finding a creditor bore the burden to trace commingled funds from a trust and show they were not property of the debtor
• “transfers made in a ‘Ponzi’ scheme are not made in the ordinary course of business” (footnote omitted
• funds in commingled account that could have been used to pay other creditors “presumptively constitutes property of the debtor’s estate”

Source: CourtListener parenthetical corpus (CC0).