191079P.pdf   09/11/2020  Douglas A. Kelley  v.  Gus Boosalis
   U.S. Court of Appeals Case No:  19-1079
                          and No:  19.2376
                          and No:  19-2382
                          and No:  19-2452
   U.S. District Court for the District of Minnesota   
   [PUBLISHED] [Loken, Author, with Benton and Kelly, Circuit Judges] 
   Civil case - Bankruptcy. In this action, the Chapter 11 Trustee for the 
   Petters bankruptcy sought to claw back interest paid to early lenders in 
   the Petters Ponzi scheme; a jury found the interest payments to defendant 
   Boosalis were fraudulent transfers under the Minnesota Uniform Fraudulent 
   Transfers Act; following the jury verdict, the court granted the Trustee's 
   motion for summary judgment against defendants Papadimos and Kanios; Held: 
   the district court erred in instructing the jury on the statute's elements 
   of "good faith" and "reasonably equivalent value" and the judgment for the 
   Trustee is reversed and the case remanded; further, the court erred in 
   granting summary judgment for the Trustee against Papadimos and Kanios 
   because it erred in applying the Minnesota Supreme Court's controlling 
   decision on the statute and the Minnesota law of void contracts; in both 
   cases, the district court erred in concluding that Minnesota rather than 
   federal law governed the award of prejudgment interest. Reversed and 
   remanded for further proceedings. Judge Kelly, concurring in part and 
   dissenting in part.