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IN RE BUTCHER

Bankruptcy No. 3-83-01036, Adv. No. 3-85-1221.

72 B.R. 447 (1987)

In re Jacob F. BUTCHER, a/k/a Jake F. Butcher, Jake Butcher, and JFB Petroleum & Land Company, Inc., Debtor. John H. BAILEY, III, Trustee, Plaintiff, v. METZGER, SHADYAC & SCHWARZ, a partnership, and Maguire, Voorhis & Wells, P.A., Defendants. METZGER, SHADYAC & SCHWARZ, Cross-Claimant, v. MAGUIRE, VOORHIS & WELLS, P.A., Cross-Defendant and Third-Party Plaintiff, v. LACY & WINCHESTER; Daniel, Claiborne & Lewallen; Troutman, Sanders, Lockerman & Ashmore, Third-Party Defendants.

United States Bankruptcy Court, E.D. Tennessee.

April 15, 1987.

Attorney(s) appearing for the Case

Bass, Berry & Sims, Wallace W. Dietz, Nashville, Tenn., for plaintiff.

Metzger, Shadyac & Schwarz, Richard C. Shadyac, Sr., Joseph H. Lahoud, Jr., Richard C. Shadyac, Jr., Charles R. Corbin, Jr., Washington, D.C., pro se.

Jules S. Cohen, P.A., Jules S. Cohen, Orlando, Fla., Arnett, Draper & Hagood, Jack B. Draper, Knoxville, Tenn., for Maguire, Voorhis & Wells, P.A.

Claiborne, Davis, Buuck & Hurley, David L. Buuck, D. Scott Hurley, Knoxville, Tenn., for Daniel, Claiborne & Lewallen.

Lacy & Winchester, J. Michael Winchester, Knoxville, Tenn., pro se.

Troutman, Sanders, Lockerman & Ashmore, Ezra H. Cohen, Mary Grace Diehl, Atlanta, Ga., David L. Buuck, Knoxville, Tenn., for Troutman, Sanders, Lockerman & Ashmore.

RICHARD STAIR, JR., Bankruptcy Judge.

At issue is whether an agreement to render future legal services for the debtor's wife and children in exchange for a $50,000.00 prepetition transfer by the debtor constitutes value in the context of 11 U.S.C.A. § 548 (West 1979) (Fraudulent transfers and obligations). Seeking to avoid the transfer, the plaintiff trustee contends a promise to perform future services is not within the scope of "value" as defined in 11 U.S...

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