- 11 U.S.C.
Englander v. Hekman Furniture Co. (In re Mastercraft Interiors Ltd.)
Dec
30
2009
Ruling
Preference period payments were not avoidable due to subsequent new value and ordinary course of business exceptions.
Procedural posture
Plaintiffs, a bankruptcy plan administrator for a chapter 11 debtor and a chapter 11 debtor, filed an adversary proceeding against defendant furniture company, seeking a determination that three payments the debtors made to the furniture company were avoidable transfers under 11 U.S.C.S. § 547, an order disallowing a claim in the amount of $ 475,678 which the company filed against their bankruptcy estates.
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Court
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