ANAND v. NATIONAL REPUBLIC BANK OF CHICAGO

No. 97 C 6873.

239 B.R. 511 (1999)

Dinesh S. ANAND and Gyan D. Anand, Plaintiffs-Appellant, v. NATIONAL REPUBLIC BANK OF CHICAGO and Harris Bank Hinsdale, Defendant-Appellee.

United States District Court, N.D. Illinois, Eastern Division.

September 14, 1999.


Attorney(s) appearing for the Case

Gerald M. Sheridan, Jr., Christina Lass, Sheridan & Associates, P.C., Wheaton, IL, for plaintiffs.

Ariel Weissberg, Herman Marino, Richard N. Steiner, Weissberg and Associate Ltd., Chicago, IL, for National Republic Bank.


MEMORANDUM OPINION AND ORDER

PALLMEYER, District Judge.

Dinesh Anand, debtor in bankruptcy, transferred his interest in a land trust to Republic National Bank in July 1992, a few months before filing a Chapter 11 bankruptcy petition. He seeks to avoid the transfer based on the constructive fraud provisions of the Bankruptcy Code, under which a debtor may avoid a transfer if, inter alia, "the debtor received less than a reasonably equivalent...

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