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*****SPAM***** Trustee Using Costs of Sale in Preference =
Doesn't make sense as 2nd TD holder is not in same class as other unsecured creditors. Therefore the payments have not diminished the estate.
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Date: Sun, 15 Mar 2009 16:27:29
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Subject: *****SPAM***** [cdcbaa] Trustee Using Costs of Sale in Preference Complaint Analysis
Just received a Complaint in a Chapter 7 case wherein the trustee is suing the 2nd deed of trust holder, claiming that pre-petition payments to it were preferential. The only way he is able to make his numbers work for the preference allegations is to take out 8% [in this instance $58,000] as costs of sale. Unless I have been asleep, I do not recall anything anywhere that allows for this. Please correct me if I am wrong.
The post was migrated from Yahoo.