United Physicians Insurance Risk Retention Group, by and through Douglas M. Sizemore, Commissioner of Commerce and Insurance, v. United American Bank of Memphis

This appeal arises from the liquidation of an insolvent captive insurance company. TheCommissioner of Commerce and Insurance, acting as the insurance company’s liquidator, filed a petition in the Chancery Court for Davidson County seeking to avoid an $800,000 transfer made by the insurance company to pay off an outstanding bank loan. The bank moved to dismiss the commissioner’s petition because the challenged transfer occurred outside of the avoidance period in Tenn. Code Ann. § 56-9-317(a)(2)(B) (1994). The trial court granted the motion, and the commissioner has appealed. We affirm the trial court’s decision.