Topic
Preference Actions
210 published works
Finance & Bankruptcy Law Blog
California State Courts Continue to Validate Assignments for the Benefit of Creditors
In 2005, in a blow to assignments for the benefit of creditors ("ABC") in California, the Ninth Circuit in Sherwood Partners Inc. v. Lycos ("Sherwood I"), 394 F.3d 1198 (9th…
Georgia Bankruptcy Blog
3rd Circuit – Contemporaneous Exchange Defense To Preference Action Applies Even Where Payment Made In Context Of Credit Agreement
By Sunghee Sohn
Hechinger Investment Company of Delaware, Inc. v. Universal Forest Products, Inc., Nos. 06-2166, 06-2229, 2007 U.S. App. LEXIS 13155 (3rd Cir. June 7, 2007). The issue was whether preferential transfers…
Georgia Bankruptcy Blog
ND Ga – Security Deeds Recorded During Preference Period Not Avoided As Preferences Where Trustee Had Inquiry Notice
By Sunghee Sohn
By: Scott B. Riddle, Esq. Watts v. Argent Mortgage Company, LLC, Adv. No. 06-6235 (Bankr. N.D. Ga. February 23, 2007)(Bonapfel). The facts are briefly summarized as follows. On July 8,…
In The (Red)®
Appointment Of Interim Trustee Before Section 546’s Two-Year Statute Of Limitations Expires Insufficient To Extend Period For Bringing Preference Actions
Scott Riddle over at the Georgia Bankruptcy Law Blog has an informative post on the decision by the U.S. Court of Appeals for the Third Circuit last week in the American…
Georgia Bankruptcy Blog
US Supreme Court – States Are Not Immune from Preference Actions
By Sunghee Sohn
In Central Virginia Community College v. Katz, No. 04-885, the Supreme Court held that states do not have soverign immunity from preference actions. Update: Background and discussion on this decision…
Bankruptcy Litigation Blog 2.0
US Supreme Court Rules in Central Virginia v. Katz That States Are Not Immune from Preference Actions
As reported here (SCOTUS blog), here (PrawfsBlawg), here (Volokh), here (Crime & Federalism), and here (Althouse), the US Supreme Court today ruled, in a 5-4 decision (pdf) authored by Justice…
Bankruptcy Litigation Blog 2.0
The Extraterritorial Reach of Avoidance Actions: Still Up in the Air
A recent case from Chicago's bankruptcy court in the Florsheim Group bankruptcy, (2005 WL 2461145) (Bankr. N.D. Ill., 9/30/05), examines the extraterritorial reach of preference actions, in this case against…
Finance & Bankruptcy Law Blog
In Re Ramba: Contemporaneous Exchange for New Value under 11 U.S.C. § 547(c)(1) Requires Creditor to Deliver a Direct Benefit
In July 2005, the Fifth Circuit Court of Appeals held in Baker Hughes Oilfield Operations, Inc. v. Cage (In re Ramba, Inc.), 2005 WL 1581076 (5th Cir.), that a creditor's…
New Jersey Law Blog
A New Defense to Preference Litigation
No one likes to give back money, especially if you had a hard time collecting it in the first place. For collection practitioners, this situation frequently occurs at the intersection…
Finance & Bankruptcy Law Blog
So Your Customer Filed For Bankruptcy Protection: What to Expect Under the New Bankruptcy Act
If your customer files its bankruptcy petition after October 17, 2005, you may be entitled to the benefit of some new or changed rules resulting from revisions recently made to…