In Re Nucorp Energy, Inc.

902 F.2d 729 20 Bankr.Ct.Dec. 713 , Bankr. L. Rep. P 73,346 In re NUCORP ENERGY, INC., and its Affiliated Debtors, Debtors. MILCHEM, INC., a Delaware corporation, Appellant, v. Milton FREDMAN, Co-Liquidating Trustee of the Nucorp Liquidating Trust, Appellee. No. 89-55219. United States Court of Appeals, Ninth Circuit. Argued and Submitted March 7, 1990. Decided April 26, 1990. 1 Ali M. M. Mojdehi, Baker & McKenzie, San Diego, Cal., for appellee. 2 Sam T. Weinberg, Houston, Tex., for appellant. 3 Appeal from the United States District Court for the Southern District of California. 4 Before LEAVY and TROTT, Circuit Judges and GRAY * , District Judge. GRAY, Senior District Judge: 5 Milchem, Inc. appeals from a judgment of the United States District Court that adopted and affirmed Bankruptcy Judge Malugen's decision in In re Nucorp Energy, Inc., 80 B.R. 517 (Bankr.S.D.Cal.1987). Such decision granted to Milton Fredman, Trustee in Bankruptcy, recovery of payments made to Milchem by the debtor, on the ground that the payments were avoidable as preferential under section 547(b) of the Bankruptcy Code, 11 U.S.C. Sec. 547 (b) (1988). We affirm in part, reverse in part and remand. FACTS…