or conditional, voluntary or involuntary, of disposing of or parting with property or with an interest in property.” 11 U.S.C. § 101(54). Phoenix American maintains that the Interest Payments do not constitute such transfers, in that they did not dispose of or part with MGRE’s property. First, it contends, the bankruptcy court properly found that the Loans were not “transferís]” under the Statute because they simply delivered MGRE’s own funds to itself. Bankr.Op. I at 6-9 (“The so-called policy loan is in actuality only an advance to the policyholder of reserve values in the policy to which the policyholder is absolutely entitled ....”); see also Bd. of Assessors of the Parish of Orleans v. N.Y. Life Ins. Co., 216 U.S. 517, 522-23, 30 S.Ct. 385, 54 L.Ed. 597 (1910) (Holmes, J.) (<HOLDING>). Phoenix American maintains, however, that the
holding that policy loans are distinct from ordinary loans because there is no obligation to repay holding that insurance obligation was primary to indemnity obligation holding that there was no coverage because there was no occurrence within the meaning of the policy because defective workmanship does not constitute an accident or an occurrence under a commercial general liability policy holding that a debtors obligation to repay a pension plan loan is a debt because the plans right to offset the obligation against future benefits constitutes a method of enforcement sufficient to create a right to payment holding that there may be an obligation to defend under an insurance policy even though there is no obligation to indemnify