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Velde v. Kirsch (In re Miller)

Velde v. Kirsch (In re Miller)

Ruling
Subsequent new value defense to avoidance not available where preferential payment was made to cure a bounced check.
Procedural posture

An involuntary chapter 7 petition was filed against debtor. Debtor converted the case to chapter 11. The case was later converted to chapter 7. The trustee commenced an adversary proceeding seeking to avoid a payment from debtor to a soybean seller of $44,955 as a preferential transfer. Pending was the trustee's motion for partial summary judgment. The complaint also sought to avoid a separate transfer, but it was not included in the motion.

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opinion summary, case decided on August 29, 2006 , LexisNexis #0107-097