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In re Net-Velázquez

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Before Torruella and Lipez, Circuit Judges, and Barbadoro, *fn1 District Judge.

This appeal arises from a bankruptcy court adversary proceeding challenging Appellant Banco Bilbao Vizcaya Argentaria’s (BBVA) garnishment of funds in the bank account of a corporation wholly owned by a Chapter 7 debtor and his wife. BBVA appeals the district court’s affirmance of a bankruptcy court judgment in favor of the bankruptcy trustee, holding that BBVA’s garnishment of funds was a preferential transfer of estate property avoidable under 11 U.S.C. § 547(b). BBVA seeks to argue in this court, under a number of theories, that ownership of the garnished funds was properly vested in the bank and not the debtor. Because BBVA neglected to squarely raise these arguments before the bankruptcy court, it has waived them and we therefore affirm.

I.

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