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a 0 O t u) II W O I —rN /^\ W W D W 1 Z W ¢ � R._o .� Uz Defendants contend that the conveyance was not a fraudulent OOU Q- 1 conveyance.They claim that in 2000,they made a loan of$100,000,and that the loan `�.( � E f}Z ni Uj Lez 2 constituted reasonably equivalent value for the conveyance.The loan was pw \ rn U documented as a loan from Defendants to Mr.Litchfiiield's son(Don K.Litchfield)and jn �l1 n o ', ' p the son's Wife,Karyn M.Litchfield.However,contemporaneous documents indicate t 1 r"Of '`WL CD w 3 the$100,000 was transferred directly to the Debtor for its use. " '- z p ry amr¢w 4 Additionally,Defendants claim the Debtor was not insolvent when it w conveyed the Real Property to Defendants in 2007 and that its remaining assets were o a 5 sufficient for its business operations.In support of this claim,they point to the fact that �1INO "o 0� O there are various appraisals prepared around the time of the conveyance that show ,•• 6 the Debtor to have been solvent at the time.These appraisals value the Debtor's , 7 interest in its remaining property(after the conveyance of the Real Property to Defendants)at somewhere between$8,240,000 and$10,250,000,far in excess of its 8 debts at the time. Following the conclusion of discovery in the Adversary Proceeding,the g parties entered into negotiations in an effort to resolve the Adversary Proceeding. Through the negotiations,the parties reached an agreement under which Defendants 10 agreed to pay the estate$12,000 in exchange for a dismissal of the Adversary Proceeding with prejudice.The parties will mutually release each other. 11 Dated:November 9,2010 THE SUNTAG LAW FIRM 12 A Professional Corporation 13 By:/s/Dane A. Suu'ea N 14 DANA A.SUNTAG w o Attorneys for Chapter 7 Trustee, 15 FREDERICK VASKE16 4, m R m 17 N �o V W Y 18 o N S O 6 tV Vl 19 20 21 22 23 24 IW6 ON 25 N U 26 N 4 9wg2 27 ca 28 r Q w U FAY 08 NOTICE OF COMPROMISE MOTION _ = Z 3 N ~ C4 N W rn