MATTER OF CORLAND CORP.

No. 91-1820.

967 F.2d 1069 (1992)

In the Matter of CORLAND CORPORATION, Debtor. JAMES L. STEPHENSON, and UNITED BANK, N.A., Appellants Cross-Appellees, v. DUKE SALISBURY, Appellee Cross-Appellant.

United States Court of Appeals, Fifth Circuit.

August 12, 1992.


Attorney(s) appearing for the Case

George H. Tarpley, Sheinfeld, Maley & Kay, Dallas, Tex., for United Bank.

Daniel B. Jones, Williford & Wood, Dallas, Tex., for Stephenson.

Camille R. McLeod, Johnson & Gibbs, Dallas, Tex., for appellee cross-appellant.

Before GOLDBERG, HIGGINBOTHAM, and DAVIS, Circuit Judges.


W. EUGENE DAVIS, Circuit Judge:

Appellants appeal the district court's judgment allowing the bankruptcy trustee to avoid a postpetition transfer of property of the estate and denying appellant Stephenson a setoff. Because we conclude that the transfer was a third-party payment on a guaranty and did not involve property of the estate, we reverse on both issues and remand for further proceedings. The Trustee cross-appeals...

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