Section 547 of the Bankruptcy Code provides for the potential recovery of transfers of a debtor's property occurring within 90 days of bankruptcy. Typically, preference actions involve payments to vendors who previously did business with the debtor on credit.
Fifth Circuit: Pre-petition Payout of Insurance Proceeds Should Be Classified As a 'Transfer of An Interest'
In upholding the bankruptcy court's determination that the payment of insurance proceeds could be such a transfer, the Fifth Circuit underscored the complex interplay between state law, bankruptcy law and the rights of creditors in bankruptcy proceedings.
By
Francis J. Lawall and 
Brenden S. Dahrouge
Brenden S. Dahrouge
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