Strict Rule Compliance Not Required for Serving a Complaint, Circuit Says
The Bankruptcy Rules for serving a summons and complaint are not jurisdictional, Eighth Circuit says.
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Transfer Occurs When Property Is Placed in Escrow or In Custodia Legis
When disbursement depends on subsequent court approval, the transfer still occurs beforehand when the deposit was made in custodia legis.
Eleventh Circuit Upholds “New Value” Defense to Preference Claim Without Reduction for Payment of Creditor’s § 503(b)(9) Claim
A recent decision by the Eleventh Circuit Court of Appeals addresses an issue previously addressed by only one other circuit court and should be welcome news for preference defendants asserting a “subsequent new value” defense while also having a § 503(b)(9) claim. In the case of Auriga Polymers Inc. v.
Average Lateness and Bucketing Tests Confirm the Ordinary Course Defense
A district judge in Brooklyn applied the two most commonly used tests for the ‘ordinary course’ defense to uphold dismissal of preference complaints.