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IN RE MBS MANAGEMENT SERVICES, INC.

No. 11-30553.

690 F.3d 352 (2012)

In the Matter of MBS MANAGEMENT SERVICES, INCORPORATED, Debtor. Claude Lightfoot, Trustee for the MBS Unsecured Creditors' Trust, Appellant Cross-Appellee, v. MXEnergy Electric, Incorporated, Appellee Cross-Appellant.

United States Court of Appeals, Fifth Circuit.

August 2, 2012.

Attorney(s) appearing for the Case

Michael H. Piper, III (argued), Steffes, Vingiello & McKenzie, L.L.C., Baton Rouge, LA, for Appellant Cross-Appellee.

Douglas Brent Wells (argued), James E. Cuellar , Jeffrey Dale Stewart, Wells & Cuellar, P.C., Houston, TX, for Appellee Cross-Appellant.

Before JONES, Chief Judge, and OWEN and HIGGINSON, Circuit Judges.

EDITH H. JONES, Chief Judge:

The bankruptcy Trustee of MBS Management Services, Inc. ("MBS"), a management company for dozens of apartment complexes, appeals judgments rejecting his claim that payments made by the debtor to MXEnergy Electric, Inc. ("MX") to reimburse MX for supplying electricity to the complexes were avoidable preferences. We agree with the bankruptcy and district courts that the payments were made on a "forward contract" expressly exempt from the...

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