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Preserving the "subjective prong" of your "ordinary course" defense.(selected topic)
The Bankruptcy Code provides various defenses that a creditor may assert to the recovery of preferential transfers. One such exception is the ordinary course of business exception of 11 U.S.C. 547(c)(2). Under section 547(c)(2), a creditor can prevent the disgorgement of assets transferred by the debtor in the "ordinary course of business." For this exception to apply, the transfer must be in payment of a debt that was incurred by the debtor in the ordinary course of business or financial affairs of the debtor and the creditor and the payments be: (1) made in the ordinary course of business or financial affairs of the debtor and the creditor (subjectively ordinary), or (2) ...
- Courts expand ordinary course defense to preferential transfers
- Magazine article from: Hoosier Banker Anonymous December 1, 1996 700+ words
...defenses is the socalled "ordinary course" defense under Section 547(c...Code. Pursuant to the ordinary course defense, a transfer cannot be...industry. Courts expand the ordinary course defense Recently, in the case...
- Preference defenses: the "ordinary course of business" defense. (bankruptcy...
- Magazine article from: Business Credit Dopke, Bruce November 1, 1993 700+ words
...propositions. Debt Occurring in the "Ordinary Course" Defense The purpose of the "ordinary course" defense is to leave normal trade transactions...test for the first element of the "ordinary course" defense is therefore subjective, and is...
- Preference dynamic duo II: whatever happened to the small preference venue...
- Magazine article from: Business Credit Nathan, Bruce May 1, 2009 700+ words
...The BAPCPA amended the ordinary course defense to make it easier to prove...satisfies the pre-BAPCPA ordinary course defense. The first requirement, the incurrence of debt in the ordinary course of business of the debtor...
- Pennsylvania Supreme Court Recognizes An "Ordinary Course Of Business"...
- News wire article from: Mondaq Business Briefing March 5, 2009 700+ words
...that a payment made in the ordinary course of business is not a payment...Release.1 In validating an ordinary course defense to preference claims, the...bankruptcy law recognizes an ordinary course exception to preference actions...
- In defense of a preference: what is the industry standard of the ordinary...
- Magazine article from: Business Credit Blakeley, Scott Callahan, Terry September 1, 2004 700+ words
...was in payment of a debt incurred in the ordinary course of business. The ordinary course of business defense adheres to bankruptcy...as to whether you may prevail with an ordinary course of business defense. Equally important...
- The BAPCPA ordinary course of business defense to preference claims: at last, a...
- Magazine article from: Business Credit Nathan, Bruce S. October 1, 2006 700+ words
...trade creditors to satisfy the ordinary course of business defense to preference...indebtedness incurred in the ordinary course of business of the debtor and...and was made either in the ordinary course of business of the debtor and...
- The ordinary course of business defense to a preference claim: ordinary...
- Magazine article from: Business Credit Nathan, Bruce S. November 1, 2002 700+ words
...to a preference claim is the ordinary course of business defense. The meaning of one of the elements of the ordinary course of business defense, payment...creditors. Overview of the Ordinary Course of Business Defense to a Preference...
- Recent developments in the "ordinary course of business" defense. ('ordinary...
- Magazine article from: Business Credit Blakeley, Scott E. February 1, 1995 700+ words
...asserted exception by creditors is the ordinary course of business exception. That exception...below. The policy supporting the ordinary course of business defense is two-fold...late payments can fall within the ordinary course of business exception so long as such...