- 11 U.S.C.
Hechinger Inv. Co. of Del. Inc. v. Universal Forest Prods. (In re Hechinger Inv. Co. of Del. Inc.)
Jun
07
2007
Ruling
Existing credit relationship does not bar contemporaneous exchange for new value defense to avoidance.
Procedural posture
Appellee chapter 11 debtor sued appellant creditor in bankruptcy court to recover alleged preferential transfers under 11 U.S.C. §§ 547 and 550. The bankruptcy court denied the creditor's spoliation motion and entered judgment in favor of the debtor. The District Court for the District of Delaware affirmed. The creditor appealed.
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