In a troubled business climate, a scenario all too often occurs wherein a once steady and reliable customer becomes delinquent in payment and eventually files for bankruptcy protection.
Tactics for Defending Preference Actions
In a troubled business climate, a scenario all too often occurs wherein a once steady and reliable customer becomes delinquent in payment and eventually files for bankruptcy protection. In this common situation, your client's good customer becomes a debtor and your client becomes one of many creditors jockeying to recover a small portion of its investment. To make matters worse, your client receives a letter from the debtor or court appointed trustee demanding repayment of a pre-petition preferential payment pursuant to section 547(b) of the Bankruptcy Code (the Code).
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Ted A. Berkowitz And Aaron S. HalpernThis premium content is locked for The Bankruptcy Strategist subscribers only
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