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Chase Manhattan Mortgage Corporation v. Shapiro
United States Court of Appeals for the Sixth Circuit
530 F.3d 458 (2008)
David Scott Lee (debtor) refinanced his residential mortgage with Chase Manhattan Mortgage Corporation (Chase) (creditor). Chase distributed funds to discharge the original mortgage. Seventy-two days later, Chase recorded the new mortgage. Seventy-seven days after Chase recorded the new mortgage, Lee filed for bankruptcy. The bankruptcy trustee sought to avoid Chase’s mortgage as a voidable preference, and the issue was appealed to the court of appeals.
Rule of Law
Holding and Reasoning (Cole, J.)
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