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IN RE LENDVEST MORTG., INC.

Bankruptcy No. 1-88-01058, Adv. No. 1-90-0134.

123 B.R. 623 (1991)

In re LENDVEST MORTGAGE, INC., Debtor. Charles E. SIMS, Trustee, Plaintiff, v. Willard and Norma DE ARMOND, Defendants.

United States Bankruptcy Court, N.D. California.

February 4, 1991.

Attorney(s) appearing for the Case

J. Roland Wagner, P.C., Napa, Cal., for defendants.

Steven M. Olson, Geary, Shea, O'Donnell & Grattan, Santa Rosa, Cal., for plaintiff.

MEMORANDUM OF DECISION

ALAN JAROSLOVSKY, Bankruptcy Judge.

Before its collapse, the debtor operated a mortgage brokerage. Much of its operational financing came from individual investors. In this adversary proceeding, the Trustee seeks to recover as a preference $50,000.00 from defendant investors Willard and Norma De Armond.

In 1986, the debtor made a $300,000.00 loan to its president, David Hansen. The loan was secured by a deed of trust to Hansen...

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