Summary:
American Residential Services, L.L.C (āAmericanā) received $186,419.35 from the Debtor in the 90-days preceding its bankruptcy and the Trustee sought to avoid such payments as a preference under 11 U.S.C. Ā§ 547. The parties agreed that the Trustee had met his burden regarding the first four requirements of Ā§ 547(b), but that he had failed to show that American had received more than it would have under Chapter 7, as American ācould and would have filed appropriate claims of lien ...
preference
By Ed Boltz, 19 June, 2012
Summary:
Trustee sought leave to amend a Complaint, which originally alleged fraudulent conveyances under 11 U.S.C. Ā§Ā§ 544 and 548 and N.C.G.S. Ā§ 39.23.4 and unjust enrichment, to add a claim for preferential transfers under 11 U.S.C. Ā§ 547. The Defendants, having already answered the Complaint, objected.
Leave to amend should be denied, therefore, āonly when the amendment would be prejudicial to theĀ opposing party, there has been bad faith on the part of the moving party, or the amendment would Ā be futile.ā Edwards v. City of Goldsboro, 178 F.3d 231, 242 (4th Cir.
By Ed Boltz, 17 April, 2012
Summary:
Jacobsen Construction entered into a contract with Kiddco to perform subcontract work on a project at Wake Technical Community College.Ā On May 7, 2004, Kiddco submitted an invoice to Jacobsen for $90,625.27 for grading work at the site and on June 2, 2004, submitted a second invoice for another $102,366.70.Ā Ā On June 10, 2004, Jacobsen paid Kiddco $35,000 and then on June 29, 2004, Jacobsen paid another $55,625.27.Ā Ā On September 24, 2004, Jacobsen filed Chapter 7, and the Trustee ultimately sought to avoid all of the payments to Kiddco as preferential payments unde