Jimmy D. Shepherd v. JP Morgan Chase Bank, N.A.

Summary

The United States Bankruptcy Court for the Eastern District of Kentucky grants Jimmy D. Shepherd’s motion for summary judgment in an adversary proceeding against JP Morgan Chase Bank, N.A. The court avoids the defendant’s judgment lien on the debtor’s real property as a preferential transfer under 11 U.S.C. § 547(b), preserves the avoided lien for the benefit of the estate under § 551, and vacates the remaining deadlines and trial.

Holdings

1. The court may decide a dispositive motion when a party was afforded an opportunity to present its arguments but failed to do so; however, the moving party must still establish entitlement to judgment as a matter of law.
2. The defendant's judgment lien was avoidable as a preferential transfer under 11 U.S.C. § 547(b) because the record established all five statutory elements.
3. The avoided judgment lien must be preserved for the benefit of the bankruptcy estate under 11 U.S.C. § 551.

Questions Presented

1. Whether the plaintiff was entitled to summary judgment despite the defendant's failure to file a timely response.
2. Whether the defendant's judgment lien was an avoidable preferential transfer under 11 U.S.C. § 547(b).
3. Whether the avoided lien should be preserved for the benefit of the bankruptcy estate under 11 U.S.C. § 551.

Disposition

other