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There's more than one way to beat a preference action: be alert for technical flaws.(Selected Topic)
A major victory has recently been won by 25 credit grantors who ere named as defendants in preference actions in the American Pad and Paper case pending in Delaware. As is typical in a large case, hundreds of adversary proceedings to recover alleged preferential transfers were brought.
The Standard Fare
The moment a credit grantor receives a complaint to recover an alleged preferential transfer, the typical and proper reaction is to determine whether or not that preference action can be defeated under one or more of the provisions of [section] 547(e). The three commonly used defenses are:
1. That such transfer was (A) intended by the debtor and ...
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