- 11 U.S.C.
Natl Gas Distribs. v. Branch Banking & Trust Co. (In re Natl Gas Distribs.)
Jul
31
2006
Ruling
Note payments made to bank were deemed not paid under ordinary business terms and, thus, were avoidable preferential transfers.
Procedural posture
Plaintiff bankruptcy trustee brought an adversary proceeding against defendant bank, seeking to recover note payments made by the bankruptcy debtor to the bank as preferential transfers. The trustee moved for summary judgment, and the bank asserted the defense under 11 U.S.C. § 547(c)(2) that the note payments were made according to ordinary business terms.
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Court
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