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Can sanctions be imposed for improperly prosecuted preference action?(Credit Column)
Introduction
Preference lawsuits are a constant source of anguish in the credit community. But there is nothing more gratifying than winning a preference lawsuit and depriving a bankruptcy trustee or debtor-in-possession of any recovery on the claim.
However, victory usually comes at a high price! A successful creditor/preference defendant frequently must incur significant legal and other costs to obtain dismissal of a preference action. And according to the American rule, in the absence of state law or a contractual provision to the contrary, a successful party in a lawsuit is usually not entitled to reimbursement of its legal and other costs incurred ...
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Source: HighBeam Research, Can sanctions be imposed for improperly prosecuted preference...