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MATTER OF RETTIG

Bankruptcy No. 82-201, Adv. No. 82-112.

32 B.R. 523 (1983)

In the Matter of Richard R. RETTIG, Debtor. Patrick SCANLON, Trustee, Plaintiff, v. NORTHEAST LOAN SYSTEMS, INC., Defendant.

United States Bankruptcy Court, D. Delaware.

August 10, 1983.

Attorney(s) appearing for the Case

Patrick Scanlon, Dover, Del., Trustee.

Paul H. Spiller, Wilmington, Del., for defendant.

MEMORANDUM OPINION AND ORDER

HELEN S. BALICK, Bankruptcy Judge.

At the time of bankruptcy, defendant, Northeast Loan Systems, Inc., held a perfected security interest in the debtor's automobile. Three days after he filed his petition, the debtor turned over the automobile to Northeast who sold it for $4,000. The Trustee seeks these funds for the bankruptcy estate on the basis that debtor's transfer of the security interest is avoidable as a preferential...

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