IN RE POSITIVE HEALTH MANAGEMENT

No. 12-20687.

769 F.3d 899 (2014)

In the Matter of POSITIVE HEALTH MANAGEMENT, Debtor Randy W. Williams, Chapter 7 Trustee, Appellant v. Federal Deposit Insurance Corporation, as Receiver for First National Bank, Appellee.

United States Court of Appeals, Fifth Circuit.

October 16, 2014.


Attorney(s) appearing for the Case

Andrew Ross Korn, Esq. , Dallas, TX, Kirk Allen Kennedy , Kennedy Firm, Houston, TX, for Appellant.

Michelle Ognibene , Counsel, Federal Deposit Insurance Corporation, Appellate Litigation Unit-Legal Division, Arlington, VA, Eric Yollick , Yollick Law Firm, P.C., The Woodlands, TX, for Appellee.

Before STEWART, Chief Judge, and WIENER and COSTA, Circuit Judges.


GREGG COSTA, Circuit Judge:

The Bankruptcy Code allows a trustee to recover fraudulent transfers made by the debtor prior to bankruptcy. 11 U.S.C. § 548(a). An innocent recipient of such a fraudulent transfer is not without a defense, however. The Code allows a transferee that takes in good faith to retain what it received from the debtor in a fraudulent transfer "to the extent that such transferee ... gave value to the debtor in exchange for such transfer."...

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