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Opinion 609

Case Name: 

Bird v. Ryan and Myrna White (In re White)

Judge: 
Judge Anderson
Date: 
Sep-6-2018
Case Number(s): 
16-02090
Status: 

PUBLISHED

Body: 

Debtor signed a $1 million note to his family, who provided him with monetary and other support in a lawsuit that ultimately resulted in a $15 milliion judgment. Three years before his bankruptcy filing, the debtor repaid the note from the judgment proceeds. The Court granted summary judgment in favor of defendants based on a finding that the trustee was time barred from avoiding the note under SS 544 and the Utah Uniform Fraudulent Transfer Act. Further, the trustee could not avoid the note under SS 541 due to the debtor's pre-petition waiver of any defenses to the note when he paid it. Finally, the makers of the note gave good consideration by providing funds to support the debtor and by waiting years to receive payment.

Internal Ref: 
Opinion 609