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IN RE AFI HOLDING, INC.

Nos. 06-55033, 06-55070.

525 F.3d 700 (2008)

In re AFI HOLDING, INC., Debtor, Christopher R. Barclay, Successor Trustee, Appellant, v. Keith Mackenzie, Appellee. In re AFI Holding, Inc., Debtor, Keith Mackenzie, Appellant, v. Christopher R. Barclay, Successor Trustee, Appellee.

United States Court of Appeals, Ninth Circuit.

Filed April 16, 2008.

Attorney(s) appearing for the Case

David R. Weinstein, Sharon Z. Weiss, Weinstein, Weiss & Ordubegian LLP, Los Angeles, CA, for the appellant/cross-appellee.

Paul J. Laurin, Weiner & Laurin, LLP, Encino, CA, for the appellee/cross-appellant.

Before: STEPHEN S. TROTT, RICHARD R. CLIFTON, and CONSUELO M. CALLAHAN, Circuit Judges.

TROTT, Circuit Judge:

The bankruptcy court granted summary judgment in favor of the Trustee for Advance Finance Incorporated ("AFI"), avoiding transfers from AFI to Keith Mackenzie under CAL. CIV. CODE § 3439.04(a), and holding that the good faith exception to fraudulent transfers under CAL. CIV. CODE § 3439.08(a) was barred as a matter of law because no "reasonably equivalent value" was exchanged for the transfers. The district court reversed and remanded...

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