United States Third Circuit

In this bankruptcy action filed by the Advanced Telecommunication Network (ATN) to recover $6 million that it transferred to Allen, but ATN avoided the transfer and obtained a recovery order in separate bankruptcy proceedings finding that the transfer was fraudulent. Following a bankruptcy filing by Allen, judgment finding that the funds were subject to an automatic stay is reversed and remanded, where in circumstances that a debtor like ATN avoids a fraudulent transfer and obtains a recovery order, the debtor has sufficiently "recovered" those funds such that they are a part of that debtor’s estate under the Bankruptcy Code.

Appellate Information

• Decided 09/26/2014
• Published 09/26/2014

Judges

• Fisher

Court

• United States Third Circuit

Counsel