United States Second Circuit
A&J Produce Corp. v. Bronx Overall Econ. Dev. Corp., 073041
In a claim concerning the distribution of proceeds received from the sale of certain assets in a statutory trust created pursuant to the Perishable Agricultural Commodities Act (PACA), grant of co-plaintiff's motion to turnover PACA assets and summary judgment for defendant is affirmed where: 1) a secured creditor's lien does not constitute a transfer of PACA trust assets within the terms of the statute; and 2) proceeds generated from the sale of such assets were therefore properly awarded to the PACA creditors.
Appellate Information
- Decided 09/10/2008
- Published 09/10/2008
Judges
Court
- United States Second Circuit