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<a href="http://www.accessmylibrary.com/coms2/summary_0286-23451907_ITM" title="Facts and information about Yes, new value can be repaid and applied to all prior preferences: the continuing saga of the new value defense to a preference claim. (Credit Column).(Column)">Yes, new value can be repaid and applied to all prior preferences: the continuing saga of the new value defense to a preference claim. (Credit Column).(Column)</a>
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Yes, new value can be repaid and applied to all prior preferences: the continuing saga of the new value defense to a preference claim. (Credit Column).(Column)
Introduction
In anticipation of the preference debate at the upcoming NACM Credit Congress, it is time to once again return to the PREFERENCE ZONE. Credit grantors cringe when they wander into the PREFERENCE ZONE, where they risk the disgorgement of payments first received from hard-pressed customers within 90 days of their bankruptcy filing and then claimed as preferences.
One of the most frequently invoked defenses to a preference claim is the new value defense. A trustee or debtor-in-possession cannot recover a payment as a preference where the creditor had extended new value in the form of credit sales of goods or services following the payment. ...
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...Among these defenses is the new value defense of Section 547(c)(4...are two policy reasons for the new value defense: First, creditors who have...bankruptcy filing. Second, the new value defense encourages creditors to continue...
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...Section 547(c)(1) contemporaneous exchange for new value defense as a full defense to the remaining preference claim...Section 547(c)(1) contemporaneous exchange for new value defense to Hechinger's preference claim. Hechinger claimed...
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...to a preference claim is the new value defense. A creditor can reduce its...alleged preference payments. The new value defense is clearly available to reduce...as part of the creditor's new value defense, and the return was made pursuant...
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...financially struggling customer. New Value Defense Section 547(c)(4)(B...the creditor to establish its new value defense. For example, on January 1...period. Without the subsequent new value defense to preference claims, the creditor...