News & Analysis as of

Creditors Debtors Preferential Transfers

Maynard Nexsen

Summer 2021: Time to Act to Protect Distressed Accounts Receivable from Bankruptcy Preference Liability

Maynard Nexsen on

Bankruptcy preference claims are viewed by businesses as an unfair legal tool that debtors and trustees use to take money back, even though the pre-bankruptcy payments from the debtor were for legitimate business debts. By...more

Rosenberg Martin Greenberg LLP

The Trustee Is Suing Me For A Transfer I Received How Many Years Ago?

Any creditor that has experienced more than a few customers or borrowers filing for bankruptcy is aware that there is a risk of being sued by a trustee to avoid transfers that the creditor received prior to the bankruptcy...more

Lowenstein Sandler LLP

Preference Defense Primer Update: Diligence Can Pay Off!

Lowenstein Sandler LLP on

Nothing is more frustrating to a trade creditor saddled with a large unpaid balance owed by a debtor in bankruptcy than being subject to the risk of having to remit back to the debtor’s estate “preference” payments received...more

Holland & Knight LLP

Eleventh Circuit Issues Opinion on New Value Defense to a Preference Claim

Holland & Knight LLP on

• In its recent decision in William S. Kaye, Trustee of the BFW Liquidating Trust v. Blue Bell Creameries, Inc. (In re BFW Liquidation, LLC), the U.S. Court of Appeals for the Eleventh Circuit held that liability for a...more

Burr & Forman

Blue Bell Creameries: Dishing Out a New Value Treat for Preference Defendants

Burr & Forman on

Trying to explain the primary purpose of Section 547 of the Bankruptcy Code to a client that just received a demand letter or complaint to avoid and recover preferential transfers can be a tough sell. Although the Section’s...more

Jones Day

Kiwi Defense Doesn't Get Off the Ground in Preference Litigation Involving Related, but Severable, Contracts

Jones Day on

Among the required elements of a claim to avoid a preferential transfer under section 547(b) of the Bankruptcy Code is that, if the creditor-transferee were permitted to retain a pre-bankruptcy payment, it would end up being...more

Clark Hill PLC

The Customer Finally Pays, But the Bankruptcy Trustee Demands the Payment Be Returned; What to do When Faced with a Preference...

Clark Hill PLC on

Many businesses have been there - a customer who is always slow to pay or, worse yet, has stopped all payments. You diligently press them for payment and after many promises, you finally receive payment. The receivable...more

Adler Pollock & Sheehan P.C.

Protecting Your Business: Payment Plans Are Not Necessarily Bankruptcy Proof

“Neither a borrower nor a lender be . . . .” Hamlet Act 1, scene 3, line 75 With all due respect to the great Bard, that simply isn’t possible in today’s business world. Even businesses that are not directly involved...more

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