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IN RE BFP

BAP No. CC-90-1712-JVP, Bankruptcy No. SA-89-06771-JR, Adv. No. SA-89-0977-JR.

132 B.R. 748 (1991)

In re BFP, a Partnership, Debtor. BFP, a Partnership, Appellant/Plaintiff, v. IMPERIAL SAVINGS & LOAN ASSOCIATION, a California corporation, Appellee/Defendant.

United States Bankruptcy Appellate Panel, for the Ninth Circuit.

Decided November 5, 1991.

Attorney(s) appearing for the Case

Roy Woolsey, Newport Beach, Cal., for appellant/plaintiff.

Edward G. Schloss, Los Angeles, Cal., for appellee/defendant.

Before JONES, VOLINN and PERRIS, Bankruptcy Judges.

OPINION

JONES, Bankruptcy Judge:

Appellee/Defendant Imperial Savings & Loan Association ("Imperial") sold real property at a foreclosure sale. Thereafter Appellant/Plaintiff BFP filed its Chapter 11 petition and brought an adversary suit to avoid the sale as a § 548(a)(2) transfer for less than reasonably equivalent value. Imperial moved for and was granted summary judgment. BFP appealed. We AFFIRM.

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