§ 547(c)(1)

Gas-Mart United States, Inc., In re--Lauter v. Wells Fargo Bank, N.A.

Ruling: 
Creditor's complaint to avoid preferential transfer was overruled in part as plaintiff established that payments it received were a contemporaneous exchange for new value. (Bankr. W.D. Mo.)
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Commercial case opionion summary, case decided on March 07,2019, LexisNexis #0419-089

Dearborn Bancorp, Inc., In re--Dery v. Karafa

Ruling: 
Trustee allowed to avoid pre-petition transfers debtor made to defendants as defendantsfailed to show that any of their services provided "new value" to the debtor. (Bankr. E.D. Mich.)
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Commercial case opionion summary, case decided on April 20,2018, LexisNexis #0718-076

Power, In re--Rainsdon v. Am. First Federal Credit Union

Ruling: 
Trustee could avoid transfer of security interest where court determined that the exchange was not in fact substantially contemporaneous. (Bankr. D. Idaho)
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Consumer case opionion summary, case decided on April 18,2018, LexisNexis #0518-116

Xurex, Inc., In re--Enslein v. IPFS Corp.

Ruling: 
Payments made by a debtor under the terms of a premium financing agreement was deemed as an extemporaneous exchange for new value without need of the cancellation of the policy. (Bankr. W.D. Mo.)
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Commercial case opionion summary, case decided on July 19,2017, LexisNexis #0817-106

In re Rosich

Ruling: 
Debtor’s payment of sale proceeds to son following his earlier release of security interest wasa contemporaneous exchange for new value and not avoidable. (Bankr. W.D. Mich.)
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Consumer case opionion summary, case decided on October 14,2016, LexisNexis #1216-049

Burtch v. Connecticut Cmty. Bank (In re J. Silver Clothing Inc.)

Plaintiff Chapter 7 trustee filed a complaint against defendant creditors, an individual and a bank, in which he sought, inter alia, to avoid and recover fraudulent and preferential transfers under 11 U.S.C.S. §§ 548, 547, and 550 and the disallowance of all claims under 11 U.S.C.S. § 502(d). The creditors moved for summary judgment. The trustee cross-moved for partial summary judgment.
Ruling: 
Transfer of security interest to bank was contemporaneous exchange for loan and not avoidable.
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Commercial case opionion summary, case decided on April 29,2011, LexisNexis #0511-139

Homann v. R.I.H. Acquisitions IN LLC (In re Lewinski)

Chapter 7 Trustee filed an adversary proceeding against defendant creditor, a casino, seeking to avoid transfers from the debtor as preferential pursuant to 11 U.S.C.S. § 547. The casino and the debtor had paid gambling debts ("markers") with a check and gambling chips.
Ruling: 
Payment of debt to casino with gambling chips during preference period was avoidable and not made in ordinary course of business.
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Consumer case opionion summary, case decided on September 30,2008, LexisNexis #1108-101

Angell v. Ray J. Pennington Inc. (In re Partitions Plus of Wilmington Inc.)

Plaintiff chapter 7 Trustee filed an adversary proceeding against defendant creditor seeking to avoid a transfer from the debtor as preferential. The creditor had worked as a subcontractor for the debtor. The creditor asserted, inter alia, that the payments could not be avoided because they were a contemporaneous exchange for new value given to the debtor under 11 U.S.C.S. § 547(c)(1). Both parties filed summary judgment motions.
Ruling: 
Transfer was not avoidable due to applicability of contemporaneous exchange for new value defense.
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Commercial case opionion summary, case decided on March 20,2008, LexisNexis #0808-067

Askenaizer v. Seacoast Redimix Concrete LLC (In re Charwil Constr. Inc.)

Plaintiff chapter 7 trustee filed a complaint against defendant subcontractor to avoid certain payments under 11 U.S.C. § 547(b) that the debtor transferred to the subcontractor within the 90-day period preceding the filing of the bankruptcy petition. The subcontractor sought summary judgment.
Ruling: 
Release of statutory lien rights was "new value" preventing avoidance of transfer from debtor contractor to subcontractor.
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Commercial case opionion summary, case decided on December 21,2007, LexisNexis #0208-027

Rupp v. Mayberry (In re Crocker Cos.)

Plaintiff bankruptcy trustee argued that certain transfers made to defendant creditor were preferential pursuant to 11 U.S.C. § 547 and fraudulent pursuant to 11 U.S.C. § 548 and Utah Code Ann. § 25-6-5(1)(b). The parties cross-moved for summary judgment. In addition, third party defendants moved to dismiss, the trustee sought remand, and the trustee moved to strike portions of an affidavit.
Ruling: 
Funds received by creditor to be held in trust were preferential not protected by earmarking doctrine from recovery.
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Consumer case opionion summary, case decided on November 08,2007, LexisNexis #1207-032

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