Case Study: Whittle Development V. Branch Banking

Law360, New York (October 21, 2011, 1:16 PM EDT) -- In the recent case of Whittle Development Inc. v. Branch Banking & Trust Co. (In re Whittle Development Inc.), No. 10-37084, 2011 (N.D. Tex. July 27, 2011), a bankruptcy court was asked whether a preference action could be sustained against a creditor who purchased real property in a properly conducted state law foreclosure sale.

Recognizing a split of authority and some contrary principles enunciated by the U.S. Supreme Court in its prior decision, BFP v. Resolution Trust Corp., 511 U.S. 531 (1994), the bankruptcy court found...
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