In Re Point Center Financial, Inc.

I. Background and Decision Below

Appellant Richard Kipperman is a court-appointed post-judgment receiver attempting to enforce a state court judgment in favor of certain creditors (“Brewer judgment” and “Brewer creditors” respectively) against Debtor Point Center Financial, Inc. The funds in question are certain management and servicing fees paid to Point Center for pre- petition services by a related entity (the “Jack Rabbit fees”). The right to collect those fees was assigned by Point Center’s principal, Dan Harkey, pre-petition from Point Center to a different entity also controlled by Harkey, but the money was eventually recovered by the bankruptcy estate through an action to avoid the transfer. The central question before the Bankruptcy Court was whether the liens held by the Brewer creditors attached to the Jack Rabbit fees prior to the right to collect the fees being assigned to the other entity. The Bankruptcy Court had previously found against Appellant on this issue, and this Court affirmed. The Ninth Circuit affirmed much of the decisions but reversed in part, finding that the Bankruptcy Court did not adequately explain why it believed that the evidence was too…