In re Nivens
United States Bankruptcy Court for the Northern District of Texas
22 B.R. 287 (1982)
- Written by Eric Miller, JD
Facts
Arville Nivens (debtor) and Danny Nivens (debtor) owned a farming business. In the last year of their farming operations, they received checks from the government, including deficiency payments and low-yield payments. The First State Bank of Abernathy (the bank) (plaintiff) had a security interest in the crop and, by extension, the government checks. The Nivenses filed for bankruptcy under Chapter 7 of the United States Bankruptcy Code. The trustee (defendant) took possession of the checks and challenged the bank’s entitlement to them, contending that they represented a preferential prepetition transfer to the bank and thus a voidable preference under § 547 of the Bankruptcy Code.
Rule of Law
Issue
Holding and Reasoning (Brister, J.)
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