- 11 U.S.C.
In re Goldsmiths Inc.
Jul
24
2006
Ruling
Payment that was made 90 days late was not a transfer made in the ordinary course of business and was avoidable.
Procedural posture
Plaintiff chapter 7 trustee filed an adversary proceeding against defendant creditor seeking to avoid transfers from the debtor fraudulent transfer under 11 U.S.C. § 548. The creditor in its answer raised its defenses under the preference statute, 11 U.S.C. § 547(c)(2). The trustee filed a motion for summary judgment, asserting he was entitled to avoid the transfers as a preference. The creditor did not file a response.
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Court
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