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IN RE DA-SOTA ELEVATOR CO.

No. 90-5514ND.

939 F.2d 654 (1991)

In re DA-SOTA ELEVATOR CO. f/k/a Dakota-Minnesota Elevator Co., Debtor. Wayne DREWES, Bankruptcy Trustee for Da-Sota Elevator Co., Plaintiff/Appellee, v. FM DA-SOTA ELEVATOR CO., GF Da-Sota Co., and Grand Forks Elevator Co., Defendant/Appellant.

United States Court of Appeals, Eighth Circuit.

Decided July 30, 1991.

Attorney(s) appearing for the Case

Timothy P. Hill, Fargo, N.D., for defendant/appellant.

Kip M. Kaler, Fargo, N.D., for plaintiff/appellee.

Before JOHN R. GIBSON and BOWMAN, Circuit Judges, and DUMBAULD, Senior District Judge.

DUMBAULD, Senior District Judge.

The nub of the controversy in the case at bar is whether certain elevator-maintenance contracts create rights sufficiently similar to property rights to be treated as assets of a bankrupt estate; and, if so, whether the assets were preferentially conveyed to insiders for "less than a reasonable equivalent value" in violation of 11 U.S.C. 548(a)(2).1 On plenary review

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