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Delaware Bankruptcy Court's Pillowtex Decision Favors Preference Defendant Relying on Subsequent New Value Defense
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November 5, 2009
Previously published on October 2009
The October 15, 2009 decision of the US Bankruptcy Court for the District of Delaware in In re Pillowtex opens the door for creditors in the Third Circuit to increase their "new value" preference defense under the "subsequent advance" approach. In re Pillowtex, No. 03-12339 (Bankr. D. Del. filed Oct. 15, 2009).
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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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