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GASMARK LTD. LIQUIDATING TRUST v. LOUIS DREYFUS NATURAL GAS

No. 97-20699.

158 F.3d 312 (1998)

GASMARK LIMITED LIQUIDATING TRUST, Plaintiff, v. LOUIS DREYFUS NATURAL GAS CORPORATION, Defendant-Appellee-Cross-Appellant, v. Brenda HEROD, Trustee for GasMark Limited Liquidating Trust, Trustee-Appellant-Cross-Appellee. In the Matter of GASMARK LTD., Debtor. Brenda HEROD, Trustee for GasMark Limited Liquidating Trust, Plaintiff-Appellant, v. DeKALB ENERGY COMPANY, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

October 30, 1998.

Attorney(s) appearing for the Case

John Anson Lee, David A. Zdunkewicz, Andrews & Kurth, Houston, TX, for Plaintiff-Appellant.

Robert O. Thomas, Bruce J. Ruzinsky, Jackson & Walker, Houston, TX, for Defendant-Appellee.

Before REAVLEY, DAVIS and DUHÉ, Circuit Judges.

DUHÉ, Circuit Judge:

This case involves questions of proof of insolvency and the affirmative defense of payment in the ordinary course of business in the context of a bankruptcy trustee's effort to avoid payments made by the debtor shortly before filing for bankruptcy. The district court found that insolvency was established and that the ordinary course of business defense prevailed. We affirm in part and reverse and remand in part.

I

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