Cambrian Liquidating Trust Moves for Summary Judgment Against Locust Grove, Inc.
November 8, 2021, Eastern District of Kentucky – Plaintiff Ellen Arvin Kennedy, as liquidating Trustee of the Cambrian Liquidating Trust, moves the Court for summary judgment under Bankruptcy Rule 7056 and Rule 56 of the Federal Rules of Civil Procedure against Defendant, Locust Grove, Inc. concerning the avoidance of “preference period transfers” under Section 547 of the Bankruptcy Code. On June 14, 2021, the Trustee had initiated an adversary proceeding to clawback about $858,770.94 as “preferences” from Defendant.
In its motion for summary judgment, the Trustee alleges that there is no genuine dispute of material fact concerning any element of section 547(b) of the Bankruptcy Code and that the alleged transfers must be avoided as a matter of law. The Trustee further claims that since Defendant has asserted “no affirmative defenses” to the claims, the Court should enter an order granting the Trustee’s motion.
