(Order granting Plaintiff’s motion for summary judgment and denying Trustee’s motion for summary judgment. Debtor held legal title to loan in trust for the benefit of the Plaintiff, its equitable owner and, as a result, the loan is not property of the Debtor’s estate. Prepetition transaction did not effect a transfer of anything more than bare legal title to the Debtor for the purpose of permitting it to sell the loan to another purchaser on behalf of the Plaintiff and to remit the sales proceeds to the Plaintiff; it did not transform the Plaintiff’s ownership interest into a security interest.)
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Date:
10/06/2008