In the Matter of Compton Corp., Debtor. Walter Kellogg, Trustee v. Blue Quail Energy, Inc., and Mbank Abilene, N.A.

How courts have described this case

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

• concluding that \[i]t is well established that a letter of credit and the proceeds therefrom are not property of the debtor's estate\
• property transferred as required by original pledge but within preference period held not to be a preference because it related back to original pledge
• application of doctrine of indirect transfer used as a sword to avoid a letter of credit transfer
• “The entire purpose of the direct/indirect doctrine is to look through the form of a transaction and determine which entity actually benefitted from the transfer.”
• property transferred as required by original pledge but within preference period held not to be a preference because it related back to original pledge
• mere \circuity of arrangement\ cannot redeem a transaction which has the effect of a preference

Source: CourtListener parenthetical corpus (CC0).