- 11 U.S.C.
Wilen v. Pamparo Sav. Bank (In re Bayonne Med. Ctr.)
May
26
2010
Ruling
Repayment of short term loan was made in ordinary course of business to a non-insider and was not avoidable.
Procedural posture
After granting a motion to reconsider a prior defense ruling in an adversary suit to recover preferential transfers to defendant bank, plaintiff trustee sought judgment that debtor's partial repayment of a loan from defendant was voidable per 11 U.S.C.S. § 547 or N.J. Stat. Ann. § 25:2- 27(b). Defendant also sought summary judgment. Issues included whether defendant was a "nonstatutory" insider and whether the repayment was in the ordinary course.
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Court
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