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IN RE TOPS APPLIANCE CITY, INC.

No. 02-4177.

372 F.3d 510 (2004)

In the Matter of: TOPS APPLIANCE CITY, INC., Debtor Donald V. Biase, Trustee in Bankruptcy for Tops Appliance City, Inc., v. Congress Financial Corporation, Donald V. Biase, Appellant.

United States Court of Appeals, Third Circuit.

Opinion filed June 21, 2004.

Attorney(s) appearing for the Case

Richard B. Honig (Argued), John A. Adler, Hellring, Lindeman, Goldstein & Siegal, LLP, Newark, NJ, Counsel for Appellant.

Stanley L. Lane, Jr. (Argued), Otterbourg, Steindler, Houston & Rosen, New York, NY, William S. Katchen, Joseph H. Lemkin, Duane Morris, LLP, Newark, NJ, Counsel for Appellees.

Before: ALITO, ROTH, and HALL, Circuit Judges.

OPINION

ROTH, Circuit Judge.

Donald Biase, trustee in bankruptcy of Tops Appliance City, Inc., brought suit against Congress Financial Corporation to recover $10.5 million dollars in payments from Tops to Congress. The Bankruptcy Court granted summary judgment in favor of Congress, dismissing the action. The District Court affirmed. On this appeal to us, we are asked to decide two issues: (1) whether the transfer between Tops and Congress was a transfer...

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