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<a href="http://www.accessmylibrary.com/coms2/summary_0286-19175002_ITM" title="Facts and information about State law preference actions: a thing of the past?(Credit Column)">State law preference actions: a thing of the past?(Credit Column)</a>
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State law preference actions: a thing of the past?(Credit Column)
Sherwood Partners v. Lycos, Inc.
Introduction
Credit grantors usually think of a preference claim as part and parcel of a debtors bankruptcy case. However, numerous states have insolvency proceedings that also permit the recovery of preferences. Wow, another source of preference headaches!
An assignment for benefit of creditors ("ABC") is one such state law liquidation proceeding that resembles a liquidation case under Chapter 7 of the Bankruptcy Code. California has a modern and widely used ABC statute, including a preference statute that is similar to Section 547 of the Bankruptcy Code (the "Bankruptcy Preference Statute"). California's ...
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...Inc. The Ninth Circuit had ruled that California's preference statute--contained in California's assignment for the benefit...million payment as a preference under the California's preference statute. Lycos moved to dismiss, arguing that the Bankruptcy...
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...000. Hardly chump change! The Preference Statute Section 547(b) of the Bankruptcy...bankruptcy filing. In theory, the preference statute is supposed to prevent favoritism...their claims. The drafters of the preference statute figured that an unsecured creditor...
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...in an appropriate industry. The Preference Statute Under Sections 547 and 550 of the...bankruptcy filing. The purpose of the preference statute is to prevent a debtor from favoring...their claims. The drafters of the preference statute had intended that, following repayment...
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...19, 2006). Mortgages Attorney Preference Statute - Forgery - Directed Verdict Where...argues the bank violated the attorney preference statute because she did not know she had...which complied with the attorney preference statute; and (3) the bank followed proper...
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...defense to defeat the trustee's preference claim. The Preference Statute Section 547(b) of the Bankruptcy Code authorizes a...courthouse to collect their claims. The drafters of the preference statute had figured that an unsecured creditor that repays a preference...
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...the case and lack similarities to the Kansas veterans' preference statute. "The Kansas statute does not use the term promotion...Slusher and Sorrell," Allergrucci added. "The Montana preference statute, like K.S.A. 73-201, expressly applied to appointment...
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...Circuit provided a thorough analysis of a race-based preference statute under the Supreme Court's strict scrutiny test and ultimately...compelling remedial interest when it enacted the [price preference statute] and the [disadvantaged business enterprise] program...
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...practices. Under such circumstances, these terms constituted "ordinary business terms," an exception to the preference statute. But, the case went on to rule, Fiber Lite had taken a number of steps just before MAPI's bankruptcy to pressure...
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...southeast. Arizonal Still producing some big bucks but needs rain badly. Arkansas Bag limits are being tightened. California Preference points system in effect for special hunts. Colorado Buck-to-doe ratios balancing out nicely. Connecticut...
Source: HighBeam Research, State law preference actions: a thing of the past?(Credit Column)