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Wallach v. Ford Motor Co. (In re Performance Transp. Servs.)

Ruling: 
New value defense did not apply where parties engaged in preferential payments rather than available setoff.
Procedural posture: 
Plaintiff chapter 7 trustee sought to recover payments made to defendant creditor as preferential, but the creditor, contending that the payments were for new value under 11 U.S.C.S. § 547(c)(4), filed a motion for summary judgment.
Issue: 
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Commercial case opionion summary, case decided on February 08,2013, LexisNexis #0313-053