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HomeBanc Mortgage Corporation
The HomeBanc Mortgage Corporation bankruptcy Chapter 11 bankruptcy petition #07-11079 was filed in the District of Delaware on August 9, 2007. The case was converted to Chapter 7 on February 24, 2009. The trustee was appointed on February 24, 2009.
On February 18, 2010, the trustee commenced a barrage of almost 388 bankruptcy preference actions. These are identified on the attached docket. This illustrates the effect of Section 546(a) of the Bankruptcy Code. Under that Section, bankruptcy preference claims are time barred after the later of (1) 2 years after the bankruptcy filing or (2) 1 year after the appointment of a trustee. The effect is to give a minimum 1 year period to a Chapter 7 trustee to evaluate and bring bankruptcy preference actions. As in the HomeBanc Mortgage case, the effect of the appointment of the trustee in the 2nd year of a bankruptcy is to extend the often quoted 2 year period for bringing of bankruptcy preference actions.
Click this link to see a sample APScan of the 388 HomeBanc Bankruptcy adversary proceedings.
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