CORNELIA G. KENNEDY, Circuit Judge.
This case presents the question of whether a payment by a third party to a creditor on behalf of a debtor is a voidable preferential transfer when the debtor grants security interests to the third party in exchange for the payment. The District Court held that defendant-appellant Peoples Banking Company ("Peoples") received from James Ross Hartley ("the debtor") a preferential transfer of $500,000, voidable under 11 U.S.C. §...
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