Broadway Advisors LLC v. Hipro Elecs. Inc. (In re Gruppo Antico Inc.)
Feb
07
2007
Ruling
"Mere conduit" defense to avoidance applied to entity that forwarded debtor's payments to the company it serviced.
Procedural posture
Defendant filed a motion for judgment on the pleadings in chapter 11 debtor's adversary proceeding, which alleged that transfers made by debtor to defendant within 90 days prior to the bankruptcy petition date were avoidable as preferences pursuant to 11 U.S.C. §§ 547(b) and 550.
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Court
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