Uecker v. Bennett (In re Mortgage Fund '08 LLC)

Summarized by Laura Coordes , Arizona State University, Sandra Day O'Connor College of Law
9 years 6 months ago

Citation:

Uecker v. Bennett (In re Mortgage Fund '08 LLC), Case No. NC-15-1408-JuKiTa (9th Cir. BAP Aug. 15, 2016) (unpublished)

Tag(s):

Ruling:

Bankruptcy court's decision that settlement agreement covered liquidating trustee's fraudulent transfer claim against appellee affirmed because no genuine issue of material fact existed as to the proper construction of the terms "REL Transfer," "Paid by REL," and "Any Third Party" as used in the settlement agreement.

Procedural context:

Appeal from the bankruptcy court for the Northern District of California, reviewed de novo.

Facts:

Appellee was an investor in debtor's affiliate, which also filed for bankruptcy. Debtor's liquidating trustee filed an adversary complaint seeking to avoid and recover money paid to appellee as a fraudulent transfer of funds that could be traced to debtor. Appellee alleged, as an affirmative defense, that a court-approved settlement agreement in affiliate's case operated as a settlement and release of any fraudulent transfer claims that debtor could assert against him. Bankruptcy court found that release in settlement agreement covered the liquidating trustee's claims in the adversary proceeding.

Judge(s):

Jury, Kirscher, Taylor

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