United States Fourth Circuit

District court's order affirming a bankruptcy court judgment allowing the bankruptcy trustee to avoid and recover certain payments made to plaintiff during the 90 days prior to the bankruptcy petition is affirmed as, regardless of whether the transfers set in motion a chain of events that resulted in the debtor's recoupment of the amounts paid, plaintiff did not show that such new value was given to the debtor as part of a contemporaneous exchange.

Appellate Information

• Argued 12/02/2009
• Decided 01/22/2010
• Published 01/22/2010

Judges

• Before TRAXLER, Chief Judge, and SHEDD and DAVIS, Circuit Judges.

Court

• United States Fourth Circuit

Counsel

• For Appellees:
  
• ARGUED:James Durling Fullerton, Fullerton & Knowles, PC, Clifton, Virginia, for Appellant. James Bigelow Angell, Howard, Stallings, From & HutSon, PA, Raleigh, North Carolina, for Appellee. ON BRIEF:Philip W. Paine, Howard, Stallings, From & Hutson, PA, Raleigh, North Carolina, for Appellee.