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Best Practices: Bankruptcy Preference Defense -- Analyzing Your Options by M. Mallory Mantiply
W. Calvin Smith
Spilman Thomas & Battle, PLLC
Roanoke Office
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November 7, 2008
Previously published on January 2008
Situation: In an effort to treat all creditors equally, the
Bankruptcy Code permits the debtor-in-possession,
trustee or other party acting on
behalf of the bankruptcy estate to recover from creditors certain
payments made on or within 90 days before the bankruptcy filing.
In a large case, there are typically hundreds of potentially preferential
payments, and opposing counsel rarely can examine all of them closely.
As a result, any creditor that received payments within the preference
period may receive demand letters or be served with a complaint by
mail seeking a return of the allegedly preferential payments.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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