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IN RE BOB'S SEA RAY BOATS, INC.

Bankruptcy No. 90-05821, Adv. No. 91-7087.

144 B.R. 451 (1992)

In re BOB'S SEA RAY BOATS, INC., Debtor. Phillip ARMSTRONG, Trustee of the Chapter 7 Bankruptcy Estate of Bob's Sea Ray Boats, Inc., Plaintiff, v. UNITED BANK OF BISMARCK, Defendant.

United States Bankruptcy Court, D. North Dakota.

August 12, 1992.

Attorney(s) appearing for the Case

Phillip D. Armstrong, Minot, N.D., trustee.

Ross H. Espeseth, Bismarck, N.D., for trustee.

Marilyn K. Foss, Bismarck, N.D., for defendant.

MEMORANDUM AND ORDER

WILLIAM A. HILL, Bankruptcy Judge.

This adversary proceeding arises by complaint of the trustee who seeks to recover a voluntary asset transfer by the Debtor, Bob's Sea Ray Boats, Inc. (Bob's Sea Ray), to its principal secured lender, United Bank of Bismarck (Bank). The trustee asserts that the events surrounding Bob's Sea Ray's voluntary surrender to the Bank of secured collateral and the value of that collateral establish alternative...

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