When disbursement depends on subsequent court approval, the transfer still occurs beforehand when the deposit was made in custodia legis.
Dec 2022
A district judge in Brooklyn applied the two most commonly used tests for the ‘ordinary course’ defense to uphold dismissal of preference complaints.
Sept 2022
A shipment received by a debtor within 20 days of filing gives the creditor both an administrative claim and a new value defense to a preference, the Eleventh Circuit says.