Contact:
Hartgen
(703) 739-0800
href='mailto:jhartgen@abiworld.org'>jhartgen@abiworld.org
PAYMENT TO
CRITICAL VENDORS WITHIN 90 DAYS OF CHAPTER 11 FILING NOT A PREFERENTIAL
TRANSFER, ACCORDING TO LATEST ABI POLL
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March 20, 2007,
w:st='on'>
size='3'>Alexandria
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size='3'>Va.
majority of respondents (56 percent) in a recent American Bankruptcy
Institute online poll agreed that a creditor who qualifies is as a
critical vendor and gets paid within 90 days of a debtor’s chapter
11 filing not subject to having the payment considered a preferential
transfer. Thirty-five percent of respondents “strongly
agreed” and 21 percent “agreed somewhat” that a
creditor who qualifies as a critical vendor and gets paid within 90 days
of a debtor’s chapter 11 filing is not subject to having the
payment considered a preferential transfer.
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Thirty-three percent of
respondents disagreed, finding that a creditor who qualifies as a
critical vendor and gets paid within 90 days of a debtor’s chapter
11 filing is subject to having its payment considered a preferential
transfer. Twenty-six percent of respondents “strongly
disagreed” and 7 percent “disagreed somewhat” that a
creditor who qualifies as a critical vendor and gets paid within 90 days
of a debtor’s chapter 11 filing is not subject to having the
payment considered a preferential transfer. Seven percent did not know
or had no opinion.
ABI members and the
public were welcome to submit their response to the statement:
“A creditor who
qualifies as a critical vendor and gets paid within 90 days of a
debtor’s chapter 11 filing is subject to having its payment
avoided as a preferential transfer.” The ABI Quick Poll was
open for voting from March 9-15.
ABI’s weekly Quick Poll
is posted on ABI’s home page,
href='http://www.abiworld.org/'>
size='3'>www.abiworld.org
size='3'>. ABI members and the public are invited to respond to a
question on a timely bankruptcy or insolvency issue. Visit
href='http://www.abiworld.net/quickpoll/'>
color='#0000ff' size='3'>http://www.abiworld.net/quickpoll/
to access the results of previous
ABI Quick Polls.
###
ABI is the largest multi-disciplinary, nonpartisan organization
dedicated to research and education on matters related to insolvency.
ABI was founded in 1982 to provide Congress and the public with unbiased
analysis of bankruptcy issues. The ABI membership includes more than
11,000 attorneys, accountants, bankers, judges, professors, lenders,
turnaround specialists and other bankruptcy professionals, providing a
forum for the exchange of ideas and information. For additional
information on ABI, visit www.abiworld.org. For additional conference
information, visit
href='http://www.abiworld.org/conferences.html'>
color='#0000ff'>http://www.abiworld.org/conferences.html.