Baldi v. Samuel Son & Co.

Pre 2005-Act: 
Pre 2005-Act
Ruling: 
Bankruptcy court properly refused to avoid payments to creditor where expert who sought to establish debtor's insolvency at time of transfers was not credible.
Procedural posture: 
Appellant bankruptcy trustees filed an adversary proceeding against appellee creditors seeking to recover, pursuant to 11 U.S.C.S. § 544(b) and 740 ILCS 160/6(a), payments that a debtor company paid to the creditors. The trustees appealed after a bankruptcy court ruled against them. They appealed again after the United States District Court for the Northern District of Illinois, Eastern Division, affirmed the bankruptcy court's decision.
Issue: 
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Commercial case opionion summary, case decided on November 24,2008, LexisNexis #1208-136