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IN RE REED

Bankruptcy No. 579-00106, Adv. No. 580-0024.

12 B.R. 41 (1981)

In re Hugh D. REED and Sharon Marcus Reed, Debtors. Jack P. DRISKILL, Trustee, Plaintiff, v. Hugh D. REED and Sharon Marcus Reed, Defendants.

United States Bankruptcy Court, N.D. Texas, Lubbock Division.

June 9, 1981.

Attorney(s) appearing for the Case

Jack McClendon, Lubbock, Tex., for debtor.

David Langston, Lubbock, Tex., for plaintiff.

Jack P. Driskill, Lubbock, Tex., trustee.

MEMORANDUM AND ORDER

BILL H. BRISTER, Bankruptcy Judge.

The debtors filed petition for order for relief under Chapter 7 of Title 11, United States Code, on December 21, 1979. During the two week period preceding the filing of the petition the debtors, obviously engaging in prebankruptcy planning, sold nonexempt personal property for approximately 50% of the value which they had assigned to those properties and applied the proceeds of $34,500.00 towards liquidation...

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