Seaver v. Glasser, No. 16-6034 (8th Cir. 2017)
Annotate this CaseThe bankruptcy trustee filed suit against Pennie Glasser, seeking to recover from her, as a preference, a payment made by debtor to her. Glass is the former wife of an insider of debtor, as well as a minor investor and employee of debtor at the time of payment. The Bankruptcy Appellate Panel held that Glasser was not an insider of debtor and the payment was not an avoidable preference under 11 U.S.C. 547(b) and Minnesota Statute 513.45(b). In this case, Glasser did not have sufficient closeness to be treated as an insider.
Court Description: Federman, Author, with Saladino, Chief Judge, and Shodeen, Bankruptcy Judge] Bankruptcy Appellate Panel. In this action to set aside a payment debtor made to Glasser, the bankruptcy court did not err in determining Glasser was not an insider of the debtor and that the payment was not an avoidable preference under 11 U.S.C. Sec. 547(b) and Minnesota Statute Section 513.45(b). [ June 09, 2017
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