In Re Ehring

900 F.2d 184 58 USLW 2608 , 20 Bankr.Ct.Dec. 603 , Bankr. L. Rep. P 73,324 In re Warne EHRING, Debtor. Warne EHRING, Appellant, v. WESTERN COMMUNITY MONEYCENTER; Franklin Tom, Commissioner of Corporation, State of California as Liquidator of Western Community Moneycenter, Appellees. No. 88-6564. United States Court of Appeals, Ninth Circuit. Argued and Submitted Jan. 8, 1990. Decided April 3, 1990. Earle S. Hagan, Hagan & Hagan, Encino, Cal., for appellant. Patricia S. Brody, Jeffer, Mangels, Butler & Marmaro, San Francisco, Cal., for appellees. Appeal from the Ninth Circuit Bankruptcy Appellate Panel. Before FARRIS, BOOCHEVER and NOONAN, Circuit Judges. FARRIS, Circuit Judge: 1 Ehring appeals the Bankruptcy Appellate Panel's decision that the purchase and resale of Ehring's house, by his secured creditor at a pre-petition, nonjudicial, noncollusive foreclosure sale was not a transfer for purposes of 11 U.S.C. Sec. 547 (b) and thus not an avoidable preference, even though the creditor, from the resale, netted $110,000 more than the outstanding debt. 91 B.R. 897 . 2 We affirm. ISSUES 3 This case raises an issue of first impression: 4 Did the purchase of real property…