Arlow v. F.A.Y. Props. (In re Mid-City Parking Inc.)

Pre 2005-Act: 
Pre 2005-Act
Ruling: 
Transfers made per a validly assumed executory contract were not preferential.
Procedural posture: 
Plaintiff trustee filed an adversary complaint pursuant to 11 U.S.C. § 550 against defendant lessor in connection with five transfers made to it by debtor parking lot operator that were claimed to be preferential within the meaning of 11 U.S.C. § 547. Three of the claims were resolved prior to trial, at which the court heard evidence on the remaining claims and on defendant's ordinary course of business defense under 11 U.S.C. § 547(c)(2).
Issue: 
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Commercial case opionion summary, case decided on December 27,2007, LexisNexis #0208-026