Bingham Fails to Win USACM Payments In 9th Circ.

Law360, New York (June 27, 2011, 3:22 PM EDT) -- The Ninth Circuit on Friday rejected Bingham McCutchen LLP’s attempt to retain $200,000 that fallen mortgage lender USA Commercial Mortgage Co. paid on behalf of an affiliated real estate developer.

Issuing a nonprecedential opinion, the appeals court concluded that the $200,000 payment was a constructive fraudulent transfer, agreeing with the district court that the bankruptcy court correctly granted the liquidating trust for USACM summary judgment on its bid to recover the funds.

Bingham appealed on the grounds that the payment from USACM, which filed for Chapter...
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