STRAIGHTLINE INVEST v. AALFS
The Ninth Circuit Court of Appeals today released an opinion in STRAIGHTLINE INVEST v. AALFS, No. 05-15979, a bankruptcy appeal. The panel consisted of David R. Thompson, Andrew J. Kleinfeld, and Sidney R. Thomas, Circuit Judges.
THOMPSON, Senior Circuit Judge:
Appellant Charles D. Aalfs (”Aalfs”) appeals a decision by the Ninth Circuit Bankruptcy Appellate Panel (”BAP”) affirming the bankruptcy court’s judgment under 11 U.S.C. ยง 549(a) avoiding the transfer to Aalfs of Straightline Investments, Inc.’s (”Debtor” or “Straightline”) accounts receivable which had a face value of approximately $200,600. In avoiding the transfer, the bankruptcy court ordered Aalfs to pay the Straightline trustee $163,007, the amount collected by Aalfs . . .