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BFP v. RESOLUTION TRUST CORPORATION

No. 92-1370.

511 U.S. 531 (1994)

BFP v. RESOLUTION TRUST CORPORATION, as RECEIVER OF IMPERIAL FEDERAL SAVINGS ASSOCIATION, et al.

United States Supreme Court.

Decided May 23, 1994.

Attorney(s) appearing for the Case

Roy B. Woolsey argued the cause for petitioner. With him on the briefs was Ronald B. Coulombe.

Ronald J. Mann argued the cause for respondent Resolution Trust Corporation. With him on the brief were Solicitor General Days, Assistant Attorney General Hunger, Jeffrey P. Minear, Joseph Patchan, Jeffrey Ehrlich, and Janice Lynn Green.

Michael R. Sment argued the cause and filed a brief for respondent Osborne et al.*

Scalia, J., delivered the opinion of the Court, in which Rehnquist, C. J., and O'Connor, Kennedy, and Thomas, JJ., joined. Souter, J., filed a dissenting opinion, in which Blackmun, Stevens, and Ginsburg, JJ., joined, p. 549.

Justice Scalia, delivered the opinion of the Court.

This case presents the question whether the consideration received from a noncollusive, real estate mortgage foreclosure sale conducted in conformance with applicable state law conclusively satisfies the Bankruptcy Code's requirement that transfers of property by insolvent debtors within one year prior to the filing of a bankruptcy petition be in exchange for "a reasonably...

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