The question presented by the cross motions is whether certain exchange funds deposited into a bank account of Defendant LandAmerica 1031 Exchange Services, Inc. (“LES” or the “Debtor”) for the purpose of facilitating three like-kind exchange transactions constitute property of the bankruptcy estate of LES.1 For the reasons set forth below, the Court answers this question in the affirmative.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.