Mosier
Mosier v. Ever-Fresh Food Co. (In re IRFM, Inc.)
Opinion
Lead Opinion
Beezer, J.
Robert P. Mosier, Chapter 7 Trustee, appeals the district court’s grant of summary judgment in favor of creditor Ever-Fresh Food Company (“Ever-Fresh”). Mosier filed this action seeking recovery of $72,-895.17 in preferential transfers from the Debtor, IRFM, Inc., to Ever-Fresh. The district court, affirming the bankruptcy court, held that Ever-Fresh was entitled to a full new value offset under section 547(c)(4), notwithstanding the fact that the new value did not remain unpaid.
The district court had jurisdiction pursuant to 28 U.S.C. § 158 (a) and we have jurisdiction pursuant to 28 U.S.C. § 158 (b)(1). We affirm the judgment of the district court.
I
IRFM was a retail grocery with several stores in the Southern California area. The grocery specialized in selling high quality fresh meats and produce to its customers, and charged the customers accordingly. IRFM expanded its operations to other areas of Southern California where the demand for high quality, high priced groceries was not great. As a result, IRFM suffered substantial losses.
Ever-Fresh was a supplier of fresh cheese and dairy products to IRFM. Ever-Fresh delivered the goods to IRFM on a weekly basis. IRFM often…