Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

In re Whitley

United States Court of Appeals, Fourth Circuit

January 31, 2017

In Re: JAMES EDWARDS WHITLEY, Debtor.
v.
FIRST CITIZENS BANK & TRUST COMPANY, Defendant-Appellee. CHARLES M. IVEY, III, Chapter 7 Trustee for the Estate of James Edwards Whitley, Plaintiff - Appellant,

          Argued: October 26, 2016

         Appeal from the United States District Court for the Middle District of North Carolina, at Greensboro. William L. Osteen, Jr., Chief District Judge. (1:14-cv-01067-WO; 12-02028; 10-10426)

         ARGUED:

          Charles Marshall Ivey, III, IVEY, MCCLELLAN, GATTON & SIEGMUND, L.L.P., Greensboro, North Carolina, for Appellant.

          Gary J. Rickner, WARD AND SMITH, P.A., Greenville, North Carolina, for Appellee.

         ON BRIEF:

          Charles Marshall Ivey, IV, IVEY, MCCLELLAN, GATTON & SIEGMUND, L.L.P., Greensboro, North Carolina, for Appellant.

          Benjamin E. F. B. Waller, WARD AND SMITH, P.A., Greenville, North Carolina, for Appellee.

          Before GREGORY, Chief Judge, WYNN, Circuit Judge, and DAVIS, Senior Circuit Judge.

         Affirmed by published opinion. Chief Judge Gregory wrote the opinion, in which Judge Wynn and Senior Judge Davis joined.

          GREGORY, Chief Judge:

         This appeal is from an adversary proceeding in the bankruptcy of debtor James Edwards Whitley. Charles M. Ivey III, the Chapter 7 trustee for Whitley's estate, appeals the district court judgment affirming the bankruptcy court's award of summary judgment for First Citizens Bank and Trust Company ("First Citizens Bank" or "the Bank") on the trustee's claim that certain deposits and wire transfers to Whitley's personal checking account at First Citizens Bank are avoidable as fraudulent transfers. We find that the transactions at issue do not constitute transfers within the meaning of the Bankruptcy Code, and we therefore affirm.

         I.

         This case arises out of Whitley's bankruptcy, which in turn stems from Whitley's Ponzi scheme wherein he defrauded his friends, family, and acquaintances out of millions of dollars under the guise of investing their money in a purchase order factoring contract business.[1] This scheme unraveled in late 2009 ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.