- 11 U.S.C.
Savage & Assocs. P.C. v. A.I. Credit Corp. (In re Teligent Inc.)
Sep
02
2005
Ruling
Debtors'payments to a company for financing the debtors'business insurance premiums were not preferential transfers since the company was oversecured and had properly perfected its security interest.
Procedural posture
Plaintiff representative of unsecured creditors of reorganized bankruptcy debtors brought an adversary proceeding against defendant, a company which financed insurance premiums, alleging that the debtors' payments to the company for financing its business insurance premiums constituted preferential transfers under 11 U.S.C. § 547. The company moved for summary judgment.
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Court
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